Competitive Marketing Strategy Question:
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The first approach of any competitor analysis is to establish is what?


1. Who are the competitors?
2. Evaluate and qualify the threat posed by each of the competitors.
3. How many competitors there are?
4. All of the above
5. None of the above

Answer: Who are the competitors?

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Market follower often gains many advantages without excessive expense, by following the market leader. Which type of market follower strategy is one whereby the market follower copies some things from the market leader but maintains some differentiation with its packaging, advertising, pricing and other factors?When adopting a market perspective, the competition is defined as task competition whereby companies are trying to satisfy customer or customer group, needs and wants. Which of the following illustrate a company adopting a market perspective identification of competitors?