Approaches That A Business Firm Could Use To Gather Information About Competition
Evaluate each of the following approaches that a business firm could use to gather information about competition. For each approach, mark your feeling about its appropriateness using the following scale:
1. definitely not appropriate, 2. probably not appropriate, 3. undecided, 4. probably appropriate, and 5. definitely appropriate
The business firm should try to get useful information about competitors by:
__5___ Careful study of trade journals Studying the competitors is the correct way that a company can compete with its competitors.
__1___ Wiretapping the telephones of competitors This is not ethical nor illegal. The company can get involved in legal issues; which would damage their image and for end their business.
__4___ Posing as a potential customer to competitors This can help providing us with the marketing method that the competitor is using and their products.
__3___ Getting loyal customers to put out a phone "request for proposal" soliciting competitors' bids......
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Approximate Word Count: 570
Approximate Pages: 3 (250 words per double-spaced page)
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