To Plan Effective Marketing Strategies, a Company Needs to Find

question 145

Multiple Choice

To plan effective marketing strategies, a company needs to find out all it can about its competitors. It must constantly compare its marketing strategies, products, prices, channels, and promotions with those of close competitors. This is an example of ________.

• A) blue ocean strategy
• B) competitor analysis
• C) organizational evaluation
• D) perfect competition
• E) quantitative analysis

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Definitions:

Customizes

Modifies or tailors a product, service, or system to meet specific requirements, preferences, or needs of an individual or group.

Productivity

The efficiency of production of goods or services, measured by the output per unit of input, such as labor hours, materials, or energy.

Ethically

In a manner that is morally right or acceptable according to societal or professional standards.

Environmentally Friendly

Practices or products that do not harm the environment.