Question

Fred is a strategic analyst for a specialty retail store chain that sells sports apparel. He's working with the marketing team and is reviewing the _____ section of the social media marketing plan which contains information about how other sports apparel stores are using social media and the success of their efforts.

Answer 1

Answer:

The correct word for the blank space is: competitor analysis.

Explanation:

Firms frequently make competitor analysis to find out what industry rivals are doing to step up in market competition. The information obtained can be beneficial for the company conducting the study to get more ideas on what the firm could do to improve business processes.

Besides, it provides firms an idea of what turns the market is taking so actions can be taken to keep at the same pace of consumers' changing trends.