Glittenra is the largest local silver store in the town of Casempton. Famegems, a large silver jewelry chain of stores, wants to set up an outlet in Casempton. Before finalizing the decision to set up the store, the marketing team of Famegems conducts a detailed study on the business, marketing strategies, and customer base of Glittenra. In this scenario, which of the following is the marketing team of Famegems most likely using?
A) Demographic segmentation
B) Corporate governance
C) A cost-benefit analysis
D) A competitive analysis

Question

Quizplus · Accepted Answer

The marketing team of Famegems is most likely using a competitive analysis to study the business, marketing strategies, and customer base of Glittenra before setting up an outlet in Casempton. This analysis will help Famegems understand the strengths and weaknesses of its competitors and formulate effective marketing strategies to compete with them. Therefore, options A, B, and C are not relevant in this context.

Glittenra Is the Largest Local Silver Store in the Town