Asked by Madie Manassa on Feb 18, 2024
Verified
What question are you answering in your plan when you compare a competitive analysis?
A) Who is your customer?
B) How big is the market?
C) How will you enter the market?
D) Who is your competition?
Customer
Someone who pays for a product or service.
- Identifying the target customer base
- Assessing the size and potential of the market
- Evaluating the strategies for market entry
Verified Answer
SK
Saurabh Karmakar
Feb 18, 2024
Final Answer :
D
Explanation :
When comparing a competitive analysis, the question being answered is "who is your competition?" This is because a competitive analysis involves evaluating the strengths and weaknesses of your competitors in order to identify potential threats and opportunities in the market. Understanding your competition is critical for developing effective marketing strategies and positioning your product or service in the marketplace. While questions about the customer, market size, and market entry are important considerations in developing a business plan, they are not directly related to a competitive analysis.
Learning Objectives
- Identifying the target customer base
- Assessing the size and potential of the market
- Evaluating the strategies for market entry