Fosters and Mason House, two major coffee brands, competed neck and neck based on their product attributes and price promotions. They were soon blindsided by the arrival of Starcoffeez, which focused more on the coffee experience rather than the coffee. This resulted in major losses for the two companies. This is an example of ________.

Question

Quizplus · Accepted Answer

Competitor myopia occurs when companies focus too narrowly on their direct competitors and fail to recognize broader changes in the market or new entrants, like Starcoffeez, that redefine the competitive landscape.

Fosters and Mason House, Two Major Coffee Brands, Competed Neck