Answer to Question #280459 in Finance for Jabs

Question #280459

Why should the competitive environment be considered when evaluating personal selling strategies?


1
Expert's answer
2021-12-21T08:36:16-0500

Through considering the competitive environment, the firm is able to get;

  • A better understanding of the market that they operate in
  • Target customers and identify prospects
  • Informed forecasting of the potential for the market
  • Insights into how the economic climate affects the market
  • A better understanding of what products and services competitors are offering
  • Insights into how competitors are pricing products and services

Through this, they re able to capitalize on the weaknesses of their competitors, and hone in on their own unique strengths.



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