Why Is There a Need to Monitor and Understand Competitors

question 129

Multiple Choice

Why is there a need to monitor and understand competitors?

• A)Because companies need to match their competitors' prices
• B)Because companies need to create products similar to their competitors'
• C)Because customers will buy from competitors if they are cheaper
• D)Because customers will turn to competitors if their needs are not being met

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Definitions:

Digital Factor

Elements or aspects of technology and digital media that influence or determine outcomes in various sectors, such as business, education, or entertainment.

Tweets Per Second

A measurement reflecting the number of tweets posted on Twitter within a second, used to gauge platform activity and engagement levels.

Digital Information

Data that is encoded digitally and can be stored and transmitted by electronic devices, facilitating accessibility and dissemination of content.

Volume

The amount of something, often measured in terms of space occupied, quantities, or capacities.