Question

Competitor analysis focuses on

a. firms with which the company competes directly.
b. firms that produce products that are substitutes.
c. all firms in the industry.
d. companies that might enter the industry.

Answer 1

Competitor analysis focuses on the firms with which the company competes directly. It helps in understanding their strengths, weaknesses, and market strategies to gain a competitive advantage.

Step-by-step explanation:

Competitor analysis focuses on the firms with which the company competes directly. It examines the strengths and weaknesses of these competitors, their market share, pricing strategies, product offerings, advertising strategies, and other factors that impact the company's competitiveness in the market. By understanding and analyzing its competitors, a company can identify potential threats and opportunities, identify gaps in the market, and make informed decisions to gain a competitive advantage.