Question

Competitor analysis involves:
(1)Identifying the actual competitors
(2)Assessing competitor's objectives, strategies, strengths & weaknesses, and reaction patterns
(3)Selecting the strategies to deal with competitors
Select the correct answer from the options given below

• A. (1) and (2)
• B. (2) and (3)
• C. (1) and (3)
• D. All of the above

Answer 1

Answer: (D)

All of the above

Competitor analysis helps an organization to grab the opportunities earlier than the competitors. It also helps to improve the business strategy. Competitor analysis involves:
(1)Identifying the actual competitors
(2)Assessing competitor's objectives, strategies, strengths & weaknesses, and reaction patterns

(3)Selecting the strategies to deal with competitors.