Question

Which of the following is the primary reason firms use competitive marketing​ intelligence? A. To assess and respond to a​ competitor's social media strategies B. To gain an understanding of a​ competitor's channels of distribution C. To gain early insights into competitor moves and​ strategies, and to prepare quick responses D. To understand more about a​ competitor's new product development efforts E. To make early decisions regarding pricing strategies of competitors

Answer 1

Answer: Option B

Explanation: Competitive intelligence refers to the study of different factors of the business environment by the organisation for helping the senior management to make strategic decision making.

This study analyzes the factors that directly affects the organisation. The channel of distribution of the competitor can be used to understand their strategy for making their market. An organisation could use this information by improving their channel and gaining a competitive advantage.

Hence from the above we can conclude that the correct option is B