Owen developed a new app that has been doing pretty well but he is interested in determining what products or services competitors are offering to customers. In order to do this, Owen could look at the ______ as part of his situational analysis. (1 point) Responses product situation product situation influencer situation influencer situation competitive situation competitive situation conditional situation
competitive situation
In order to determine what products or services competitors are offering to customers, Owen could look at the competitive situation as part of his situational analysis.
In order to determine what products or services competitors are offering to customers, Owen could look at the competitive situation as part of his situational analysis. The competitive situation refers to the landscape and dynamics of competitors in the market, including their products, services, pricing, marketing strategies, and customer base. There are several ways Owen can gather information about his competitors' offerings:
1. Online research: Owen can visit competitors' websites, social media pages, and online platforms to gather information about their product offerings, features, pricing, and customer reviews.
2. Industry reports: Owen can access industry reports that provide insights into the competitive landscape, including the products and services offered by key players in the market.
3. Direct contact: Owen can reach out to current or former customers, suppliers, industry experts, or consultants with knowledge about his competitors to gather information about their offerings.
4. Trade shows and events: Owen can attend industry trade shows, conferences, and events where competitors showcase their products and services.
5. Mystery shopping: Owen can employ a mystery shopping technique where he or his team act as potential customers and analyze the products and services offered by competitors first-hand.
By analyzing the competitive situation, Owen can gather valuable information that can help him identify gaps in the market, differentiate his own offerings, and make informed decisions on how to position his app to attract and retain customers.