Optalama, a leading chain of optical stores, follows the practice of conducting surveys to study the strategies used by other optical stores in the city in which it operates. To maintain its position as the market leader, it monitors the other stores' strengths, weaknesses, and advertising and marketing campaigns. In this scenario, which of the following is Optalama most likely using?
A) Demographic segmentation
B) Corporate governance
C) A cost-benefit analysis
D) A competitive analysis

Question

Quizplus · Accepted Answer

Optalama is most likely using competitive analysis to study the strategies used by other optical stores in the city. It monitors the other stores' strengths, weaknesses, and advertising and marketing campaigns to maintain its position as the market leader. Demographic segmentation refers to identifying and targeting specific groups of customers based on demographic factors such as age, gender, income, etc. Corporate governance refers to the system of rules, practices, and processes that a company follows to manage and control its operations. A cost-benefit analysis is a tool used to compare the costs and benefits of different courses of action to make informed decisions. None of these concepts apply to Optalama's practice of monitoring other optical stores in the city.

Optalama, a Leading Chain of Optical Stores, Follows the Practice