Question

Regina is creating her competitive analysis. She understands why it's important to know her direct competitors, but she's not sure why indirect competitors matter. She asks you if indirect competitors are important to know about. What should you say?

a.No. Indirect competition isn't something to worry about because they sell different products.
b.No. Indirect competition is only important to understand if things change and it becomes direct competition.
c.Yes. Indirect competition is important to understand, since the different product fulfills the same customer need.
d.Yes. Indirect competition is important. Indirect competitors are competitors who compete in areas other than money, such as in hiring.
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Answer 1

The answer is c.) Yes. Indirect competition is important to understand, since the different product fulfills the same customer need.

Answer 2

In indirect competition, this involves two or more businesses that provide different kinds of products and services but may satisfy the need of the same consumers. In Regina's case, indirect competition is significant because even though they have different products, this would still satisfy the same customer. The answer is option C.