You have been asked to report on the competitive environment in the restaurant industry; therefore, you develop the ________ necessary to decide how to manage in the given environment.

Question

Quizplus · Accepted Answer

Competitive intelligence is the process of gathering and analyzing information about competitors, their products, and their market strategies to make strategic business decisions. By developing competitive intelligence, one can gain a thorough understanding of the competitive environment in the restaurant industry and make informed decisions about how to manage in it. This can include analyzing competitors' pricing, menu offerings, marketing tactics, and customer experience to gain a competitive advantage. Therefore, the choice B is the best answer.

You Have Been Asked to Report on the Competitive Environment