Question

Some industries, like the athletic shoe industry, are dominated by a small number of firms with strong brands. These industries are difficult to break into without spending heavily on advertising. The barrier to entry that the firms in these types of industries have erected is referred to as ________

Answer 1

Product differentiation

Step-by-step explanation:

Product differentiation is a system that helps to recognise an organisation's items or administrations from the challenge. Product differentiation includes recognising and conveying the basic characteristics of an organisation's contributions while featuring the unique contrasts between those contributions and others available. In order to enter in the athletic shoe market which is highly competitive and solid product differentiation method is required.