Competitive Analysis in Marketing

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What is the primary goal of conducting a competitive analysis according to the passage?

To gain insight into the company's internal operations

To understand the values and benefits of competitors' products (correct)

To develop innovative products

To identify new market opportunities

What are the two types of competitors mentioned in the passage?

Domestic and international competitors

Local and global competitors

Direct and indirect competitors (correct)

Online and offline competitors

According to the passage, how can a service firm gain a competitive advantage?

By providing equal product value but operating more efficiently than rivals (lower cost) (correct)

By offering lower prices than competitors

By investing in advanced technology

By offering a wider range of products and services than competitors

What is the main role of suppliers according to the passage?

To provide necessary resources to produce goods and services (B) Signup and view all the answers

What is the challenge for businesses in maintaining good relationships with suppliers, as mentioned in the passage?

All of the above (D) Signup and view all the answers

From a retail perspective, what is the primary role of suppliers according to the passage?

To deliver products in bulk, which are then packed or broken down into smaller packaged proportions and sold in stores to consumers (D) Signup and view all the answers

What term refers to the forces closely influencing the company and directly affecting the organization’s relationships?

Microenvironment (B) Signup and view all the answers

In a service firm's environment, who are considered as internal customers?

Employees (B) Signup and view all the answers

What are external customers referred to in the text?

General consumers (B) Signup and view all the answers

Which group is considered as a part of a service firm's environment and is crucial as a key marketing mix variable?

Marketing intermediaries (D) Signup and view all the answers

What key task is highlighted in maintaining employee-employer relationships according to the text?

Creating settings for mutual objectives realization (C) Signup and view all the answers

In the context of suppliers, what aspect is mentioned as either a strength or a weakness for a service firm?

Problems related to suppliers (B) Signup and view all the answers

Which of the following is NOT a type of marketing intermediary?

Product manufacturer (D) Signup and view all the answers

What can be a consequence of supply shortages or delays from suppliers?

Damage to customer satisfaction in the long run (D) Signup and view all the answers

Why should marketers treat suppliers as partners?

To create and deliver customer value more effectively (A) Signup and view all the answers

Which of the following provides price utility to consumers?

Financial intermediaries (D) Signup and view all the answers

Which type of marketing intermediary helps in targeting and promoting products?

Marketing services firms (D) Signup and view all the answers

From a retail perspective, which type of marketing intermediary is most directly involved in selling products to final buyers?

Distribution channels (B) Signup and view all the answers