Chapter 5

Question 1

What is Competition Analysis?

Answer 1

The process of identifying key competitors, assessing their objectives, strategies, strengths and weakness and reaction patterns and selecting which competitor to attack or avoid.

Question 2

What are the steps in Competition Analysis?

Answer 2

Steps:
Indentifying the company’s competitors.
Assessing Competitor’s objectives, strategies, strengths and weakness and reaction patterns.
Selecting competitors to attack or avoid.