Your marketing team has started the analysis of your company's marketing environment. Competition has been very intense in recent years in your industry, so you decide to place more emphasis on analyzing the competitive forces in your industry. You group your competitors into the four types that a firm normally faces.In general, which one of the four types of competitors do you think will be the most formidable for your company?
A)Total Budget Competitors
B)Features-Oriented Competitors
C)Brand Competitors
D)Generic Competitors
E)Product Competitors

Question

​Your marketing team has started the analysis of your company's marketing environment. Competition has been very intense in recent years in your industry, so you decide to place more emphasis on analyzing the competitive forces in your industry. You group your competitors into the four types that a firm normally faces.In general, which one of the four types of competitors do you think will be the most formidable for your company?
A)Total Budget Competitors​
B)Features-Oriented Competitors
C)Brand Competitors
D)Generic Competitors
E)Product Competitors

Quizplus · Accepted Answer

Brand competitors are the ones that have strong brand recognition and customer loyalty, which can be difficult to overcome. In a highly competitive environment, customers are likely to stick with brands they trust and are familiar with, making it challenging for new or lesser-known brands to gain traction. Therefore, brand competitors are often the most formidable opponents to a company.

​Your Marketing Team Has Started the Analysis of Your Company's

Your Marketing Team Has Started the Analysis of Your Company's