The first step in initiating competitive marketing strategies is to conduct .
A)management modifications
B)absolute advantage processing
C)a competitive advantage analysis
D)a private screening
E)competitor analysis

Question

Quizplus · Accepted Answer

The first step in initiating competitive marketing strategies is to conduct a competitor analysis. This involves identifying and analyzing the strengths and weaknesses of rival firms in the industry, as well as their products, pricing, distribution channels, and promotional strategies. By understanding the competitive landscape, a company can develop effective marketing strategies to position itself more favorably in the marketplace.

The First Step in Initiating Competitive Marketing Strategies Is to Conduct