A company's closest competitors are those that
A) are in the same geographical area.
B) serve the same basic customer needs.
C) are small and aggressive.
D) focus on low price.
E) attack and then retreat before the company can respond.

Question

Quizplus · Accepted Answer

Closest competitors are those that serve the same basic customer needs as the company. This means they are likely to be in the same industry or market and offer similar products or services. Geographic location, aggressiveness, price focus, or attack and retreat tactics may be important factors, but they do not necessarily define the level of competition or closeness of competitors.

A Company's Closest Competitors Are Those That