Question

What is the first thing a company does when analyzing​ competitors? A. Assess the​ competitor's objectives and strategies. B. Identify the​ company's competitors. C. Select which competitors to attack. D. Assess​ competitor's strengths and weaknesses. E. Select which competitors to avoid.

Answer 1

Answer:

The answer is B. Identify the company's competitors

Explanation:

In any given industry, there are always different companies in the business of pleasing the same customers, and the customers will invariably continue to do business with the company that exceeds their expectations.

That being said, any company that aims to out perform its competitors and please customers the most will carry out a Competitive Analysis. This analysis is carried out in order to determine the strengths and weaknesses of a company's competitor.

The first step in a competitor analysis is to identify the company's competition, both current and potential. This identification of competition is very important, because a company in the hotel industry can not compete with a company in the transport industry.