One Section of the Competitor Analysis of a Formal Marketing

question 54

Multiple Choice

One section of the competitor analysis of a formal marketing plan should include all of the following, except

• A) competitor's strengths and weaknesses.
• B) a list of related products currently being marketed or tested by competitors.
• C) the likelihood that competitors will enter the firm's target market.
• D) the competitiveness of plans such as warranty and repair policies.

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Definitions:

Pure Competition

A market structure characterized by a large number of buyers and sellers, free entry and exit, and a homogeneous product, leading to price taking behavior.

Competitive Firm

A business that competes in a market where it has some influence on the prices of its products or services but faces competition from other firms.

Total Economic

A term likely intending to refer to 'total economic value,' which encompasses all direct and indirect values of a resource or entity.

ATC Curves

Graphs that illustrate the average total cost of production at different levels of output.