Identify the two alternative approaches to assessing the set of competitors.
A) Market determined parameters and Standardization
B) Managerial judgment and Customer-based evaluation
C) Regulatory definitions and Market determined parameters
D) Benchmarking and Standardization
E) Managerial judgment and Sales definitions

Question

Quizplus · Accepted Answer

Managerial judgment and Customer-based evaluation are two alternative approaches to assessing the set of competitors. Managerial judgment relies on the expertise and experience of managers to identify and evaluate competitors, while customer-based evaluation focuses on the perceptions and experiences of customers to determine the competitive landscape.

Identify the Two Alternative Approaches to Assessing the Set of Competitors