Which Is the Best Description of Competitive Product Analysis

question 124

Short Answer

Which is the best description of competitive product analysis?
A company looks at all the competitors' products and rates them on a scale of 1 to 10.
An independent testing service, such as Consumers' Union, is hired to test and rate a group of similar products.
A competitor's product is purchased, disassembled, and the components tested in order to generate ideas for improving the quality of products.
An independent firm conducts consumer research in order to rate competing products.
This is the result of a consumer survey by the marketing department.

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Definitions:

Sweepstakes

A type of contest or promotion where winners are selected by chance from among the entrants, often used for marketing purposes.

Games

Structured forms of play, usually undertaken for enjoyment, entertainment, or educational purposes.

Contests

Competitive events where individuals or teams compete against each other according to specific rules to win prizes or recognition.

Trade Promotion

Sales promotion geared to marketing intermediaries rather than to final consumers.