I need help with a Marketing question. All explanations and answers will be used to help me learn.
Why is it important to research competitors? A precise understanding of a competitor’s strengths and weaknesses is an important prerequisite for developing a strategy to compete against it. Whether competitors can carry out their strategies and reach their goals depends on their resources and capabilities.
Write a two-page APA-formatted paper, using a minimum of three peer-reviewed references, describing a Competitor’s Strengths and Weakness analysis in the following areas:
- Brand image
- Product Innovation
- Extensive distribution
- Economies of Scale