George, the marketing manager of Axil Bicycles, discovers that the company's current market is becoming stagnant and the product life cycle is far past the dynamic growth stage. George also learns that Axil's competitor, Kinetixyles, is developing an innovative new bicycle with novel features. George thus proposes that Axil Bicycles should also come up with a new product, equipped with superior features. Which of the following types of opportunities is identified here?

Question

Quizplus · Accepted Answer

The opportunity identified here is an external mandate because it is driven by the actions of a competitor, Kinetixyles, who is developing an innovative bicycle. This external factor is prompting George to propose a new product with superior features to keep up with the competition.

George, the Marketing Manager of Axil Bicycles, Discovers That the Company's