Which of the following is true about the information-gathering process in competitive analysis?
A)It is an expensive process that only large companies can afford.
B)It can be relatively inexpensive and easy for the small business owner to conduct.
C)It is a process closely regulated by various federal laws that prohibit doing things like purchasing competitive products and analyzing them.
D)It is a process that requires expert help and is relatively expensive.

Question

Quizplus · Accepted Answer

The information-gathering process in competitive analysis can be relatively inexpensive and easy for the small business owner to conduct. There are many publicly available sources such as company websites, industry publications, and government reports that can be used for gathering information. Additionally, social media can also be a useful tool for gathering information about competitors. Larger companies may have more resources at their disposal, but small businesses can still conduct effective competitive analysis with some effort and research.

Which of the Following Is True About the Information-Gathering Process