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.
A product situation
B influencer situation
C competitive situation
D conditional situation
C competitive situation
is this right
Yes, that is correct. Owen can look at the competitive situation as part of his situational analysis to determine what products or services his competitors are offering to customers.
The correct answer is C) competitive situation.
To determine what products or services competitors are offering to customers, Owen should analyze the competitive situation as part of his situational analysis. This involves researching and assessing the products and services offered by his competitors in the market.
Here's how Owen can go about doing this:
1. Identify the key competitors: Owen should make a list of the major competitors in his industry. These could be companies that offer similar products or services to his target customers.
2. Research competitors' offerings: Owen needs to investigate what products or services his competitors are currently offering to customers. This can be done through various methods such as visiting their websites, reading their product descriptions and reviews, or even making purchases from them to experience their offerings firsthand.
3. Analyze the strengths and weaknesses: Once Owen has gathered information about the competitors' offerings, he should analyze their strengths and weaknesses compared to his own app. This will help him understand what sets his product apart and identify areas where he can improve or differentiate.
4. Look for gaps in the market: Owen should also look for any gaps in the market that his competitors are not addressing or opportunities where he can provide a better solution. This may involve identifying unmet customer needs or finding areas where competitors are lacking in terms of quality, price, or features.
By analyzing the competitive situation, Owen will gain valuable insights into the products and services offered by his competitors, allowing him to make informed decisions about his own app's positioning and potential areas of improvement.