Optalama, a leading chain of optical stores, follows the practice of conducting surveys to study the strategies used by other optical stores in the city in which it operates. To maintain its position as the market leader, it monitors the other stores' strengths, weaknesses, and advertising and marketing campaigns. In this scenario, which of the following is Optalama most likely using?

Question

Quizplus · Accepted Answer

Optalama is most likely using competitive analysis, which involves studying the competition's strengths, weaknesses, and marketing strategies to maintain its position as the market leader. Demographic segmentation refers to dividing a market into subgroups based on characteristics such as age, gender, or income. Corporate governance is the system by which companies are directed and controlled. Change intervention is a process of helping organizations change their behavior or culture. None of these concepts appear to be relevant to Optalama's practice of conducting surveys to study their competitors.

Optalama, a Leading Chain of Optical Stores, Follows the Practice