Using the market approach,________ are companies that satisfy the same customer need.
A) partners
B) competitors
C) entrepreneurs
D) innovators
E) followers

Question

Quizplus · Accepted Answer

Competitors are companies that offer similar products or services and compete for the same customer base. This is the basic foundation of the market approach in which companies are compared to their competitors in terms of pricing, quality, and features. Partners, entrepreneurs, innovators, and followers do not necessarily fulfill the same customer need as the company being evaluated.

Using the Market Approach,________ Are Companies That Satisfy the Same