Question

Ziff Corp. was a leading electronics firm for about three decades. As new competitors entered the industry, Ziff Corp's market share dropped. The managers at Ziff Corp. refuse to change any of their strategies, as they believe that their existing strategies will help them become one of the market leaders as they did in the past. This scenario is an example of _____.

Answer 1

Competitive inertia

Step-by-step explanation:

Competitive inertia -

It is the activity method which a firm use due to the changes in the areas like the scope of market , new product , advertising , pricing , is known as the competitive inertia .

Hence , same case is shown in the question , when the Ziff Corp. did not change its strategy , as they where sure that their recent strategy is capable to make them the market leader .