What is the correct use of competitor analysis?
Answer and explanation
Correct answer: दूसरों की ताकत और कमजोरी समझकर अपनी रणनीति बनाना
Competitor analysis studies rival offerings, prices, quality, service, strengths and gaps so that the entrepreneur can identify opportunities and design a better or distinct strategy. It does not mean copying without improvement or ignoring customers. Competitors remain part of the market, and analysis should support ethical, informed competition rather than elimination by assumption.
Frequently asked questions
What is the correct answer to this question?
दूसरों की ताकत और कमजोरी समझकर अपनी रणनीति बनाना
Why is this the correct answer?
Competitor analysis studies rival offerings, prices, quality, service, strengths and gaps so that the entrepreneur can identify opportunities and design a better or distinct strategy. It does not mean copying without improvement or ignoring customers. Competitors remain part of the market, and analysis should support ethical, informed competition rather than elimination by assumption.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
