Using the ________ approach, we define competitors as companies that satisfy the same customer need.
A) challenger
B) competitive
C) industry
D) myopic
E) market

Question

Quizplus · Accepted Answer

The market approach to defining competitors focuses on companies that satisfy the same customer need or offer similar products or services, regardless of industry or size. This approach allows for a broader range of competitors to be considered and can uncover opportunities for innovation and differentiation.

Using the ________ Approach, We Define Competitors as Companies That