Determining where a firm should compete requires management to consider which of the following factors?
A) Determining the firm's current customers only
B) Determining the firm's potential customers only
C) Determining the needs of current and potential customers, as well as suppliers
D) Determining the needs of potential suppliers only
E) A and D only

Question

Quizplus · Accepted Answer

Determining where a firm should compete requires management to consider the needs of both current and potential customers, as well as suppliers. It is important to understand the demand for the product or service in various markets and to identify potential competitors in those markets. Additionally, it is essential to consider the resources and capabilities required to compete effectively in each market. Focusing only on current customers or potential suppliers may limit the firm's ability to sustain profitability and growth in the long run.

Determining Where a Firm Should Compete Requires Management to Consider