Plush Extreme Inc. is a popular furniture designer that offers a wide range of furniture. Zara LLC., has recently started offering custom-made furniture in the same city. The managers at Plush Extreme are conducting a research to find out the strengths and weaknesses of Zara. the managers are also trying to find out the strategies that Zara is using. Which of the following concepts is illustrated in the scenario?

Question

Quizplus · Accepted Answer

The scenario illustrates competitive analysis, which is the process of identifying and evaluating competitors and their strategies to determine strengths and weaknesses in order to improve one's own position in the market.