A business identifies its key area of competitive weakness and then looks outside its industry to another company that is recognized as a world-class performer in that area in an attempt to emulate them.This process is referred to as ________.
A)ideal points mapping
B)product positioning
C)competitive benchmarking
D)perceptual mapping
E)competitive mapping

Question

Quizplus · Accepted Answer

This process is known as competitive benchmarking, where a business looks outside its industry to another company recognized as a world-class performer in a key area of weakness in an attempt to emulate them. Ideal points mapping, product positioning, and perceptual mapping are different concepts that do not involve emulating world-class performers in another industry. Competitive mapping is not a widely recognized term in business strategy.

A Business Identifies Its Key Area of Competitive Weakness and Then