Question

Glittenra is the largest local silver store in the town of Casempton. Famegems, a large silver jewelry chain of stores, wants to set up an outlet in Casempton. Before finalizing the decision to set up the store, the marketing team of Famegems conducts a detailed study on the business, marketing strategies, and customer base of Glittenra. In this scenario, which of the following is the marketing team of Famegems most likely using?

A. Corporate governance
B. Change intervention
C. Demographic segmentation
D. Competitive analysis

Answer 1

Answer: (D) Competitive analysis

Explanation:

The competitive analysis is the process of understanding the marketing management and also the business strategies for analysis the current potential of the competitors in the market.

The main aim of the competitive analysis is that it helps in providing the key of current sales trends in the market so that all the competitors in the market compared their current status with others.

According to the given question, the Fame-gems is using the competitive analysis method for understanding the business and the marketing strategies.  

 Therefore, Option (D) is correct answer.