Question

Because Coca-Cola, Nestle, and PepsiCo all sell a product (bottled water) that is essentially the same and all three giant companies are engaged in battles for market share using incremental changes in their products and seeking loyalty to brand names, it is most likely that the bottled water market is a(an)___________.

Answer 1

Standard Cycle market.

Step-by-step explanation:

Standard Cycle Markets are markets where the imitation of the products that a competitor sells is very difficult and expensive. In case of bottled water, The scope of innovation is very low and thus the it is very difficult for any company to gain competitive advantage over its competitors in such markets. Therefore, Bottled Water market is considered as the most appropriate example of 'Standard Cycle Market'.