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Consider an industry in the midst of an economy-wide recession. Which of the following characteristics of this particular industry is/are likely to limit the potential losses to firms in this industry from this economic downturn? Choose any/all that apply.
a. There is very limited product differentiation among firms.
b. Buyers in this market consider the product a luxury.
c. The two main suppliers in this market have recently merged.
d. Buyers who move from one company's product to another company's product typically retrain their entire workforce to educate them on important differences across the products.
e. Buyers in this market are most often using the internet to make connections with multiple companies from which they buy this product.
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