A Small Business Owner Would Conduct a Competitive Analysis in Order

question 25

Multiple Choice

A small business owner would conduct a competitive analysis in order to:

• A)influence customers' perceptions of the company and products' image.
• B)avoid surprises from existing competitors and to identify potential new competitors.
• C)divide the market into smaller,homogeneous units.
• D)scan the environment for weaknesses and strengths on which to capitalize.

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Definitions:

Internal Factors

Elements within an individual or organization that influence behavior, decisions, and outcomes, such as values, skills, attitudes, and emotions.

Cross-Cultural Research

The study of how cultural factors affect different human behaviors.

Attributions

The process by which individuals explain the causes of behavior and events, either attributing them to external or internal factors.

Cultural Differences

Variations in values, beliefs, practices, and customs among different societies and communities.