Nico owns a gift and card shop and is currently preparing a market summary. To be most effective, the competition section of his market summary should
A)list only indirect competitors.
B)focus only on competitors that sell the same product as he.
C)list possible tactics to obtain a larger market share.
D)list only direct competitors.
E)list both direct and indirect competitors.

Question

Quizplus · Accepted Answer

A comprehensive market summary should include both direct and indirect competitors to provide a full view of the competitive landscape. Direct competitors offer the same products or services, while indirect competitors offer alternatives that could satisfy the same customer needs. Including both gives a more complete picture of the market dynamics.

Nico Owns a Gift and Card Shop and Is Currently