If a company identifies its competitors from an industry point of view, it must understand ________ if it hopes to be an effective player in that industry.
A) the trends in the industry
B) the primary customers
C) the impact of technological changes
D) the potential customers
E) the competitive patterns

Question

Quizplus · Accepted Answer

The competitive patterns in an industry are crucial for a company to understand if it wants to be an effective player in that industry. By understanding the competitive patterns, a company can identify its competitors, their strengths and weaknesses, and the strategies they are using. This information can then be used to develop a competitive strategy that will help the company to succeed in the industry.

If a Company Identifies Its Competitors from an Industry Point