To imitate the competitive advantage of another company, a firm must first:
A)Understand the basis of its rival's success
B)Collect comprehensive information about its rival
C)Analyze its rival's marketing strategy
D)None of the above

Question

Quizplus · Accepted Answer

To imitate the competitive advantage of another company, a firm must first understand the basis of its rival's success. This involves identifying the key factors that contribute to the rival's success, such as its product offerings, marketing strategy, customer service, and operational efficiency. Once the basis of the rival's success is understood, the firm can then work to replicate or improve upon these factors to gain a competitive advantage of its own. Collecting comprehensive information and analyzing the marketing strategy are important steps, but they come after understanding the basis of the rival's success.

To Imitate the Competitive Advantage of Another Company, a Firm