When developing marketing plans, what should a firm consider about their competition?Multiple choice question.Their reactionThe amount of time they have been in businessTheir growth trajectoryTheir confidential new product plans
Question
When developing marketing plans, what should a firm consider about their competition?Multiple choice question.Their reactionThe amount of time they have been in businessTheir growth trajectoryTheir confidential new product plans
Solution
When developing marketing plans, a firm should consider their competition's reaction. This involves understanding how the competition might respond to your marketing strategies and adjusting your plans accordingly to maintain a competitive edge. While the amount of time they have been in business and their growth trajectory can provide useful context, it's not as directly relevant to your marketing plans. Their confidential new product plans, if known, could be highly valuable, but it's both unethical and illegal to obtain this information if it's not publicly available. Therefore, the best answer is "Their reaction".
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