Question

Marketers must constantly monitor their competitors' products, prices, distribution, and promotional efforts because the:

a) competitors may be violating the truth-in-advertising laws
b) actions of competitors may threaten the firm's monopoly position
c) actions of competitors may create an oligopoly within an industry
d) new product offerings by a competitor may require adjustments to one or more components of the firm's marketing mix

Answer 1

Marketers must monitor their competitors' products, prices, distribution, and promotional efforts because new product offerings by a competitor may require adjustments to the firm's marketing mix.

Step-by-step explanation:

Marketers must constantly monitor their competitors' products, prices, distribution, and promotional efforts because the actions of competitors may require adjustments to one or more components of the firm's marketing mix. For example, if a competitor introduces a new product offering, the firm may need to adjust its own product offerings, pricing strategy, distribution channels, or promotional campaigns to remain competitive in the market.