Question

The process of anticipating rivals’ actions in order to both revise a firm’s plan and prepare to deal with rivals’ response is called _____.
a. mutual forbearance
b. prisoners’ dilemma
c. competitor analysis
d. multimarket competition

Answer 1

Answer:

Letter c is correct. Competitor analysis

Explanation:

Competitor analysis is a vital practice for those who are starting a business and who already have a consolidated brand in the market. Conducting a competitor analysis helps you better understand the marketing landscape and understand how your organization's positioning stands with its competitors.

By evaluating competitors, it is possible for a company to find development opportunities and better understand which challenges and continuous improvements need to be implemented. Competitor analysis can be conducted through market research, press, commentary and opinions, the internet and advertising.