The key to understanding the impact of competition on marketing is to examine it from the firm's point of view.

Question

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The key to understanding the impact of competition on marketing is to examine it from the consumer's point of view. As a consumer, you are hungry. For Burger King to be considered as an option, you would think about it in terms of the competition. Do I want to eat at Burger King, McDonald's, Hardee's, or another fast-food outlet that sells hamburgers? Is there one close to me?

The Key to Understanding the Impact of Competition on Marketing