MANAGEMENT

Detailed explanation-1: -The correct answer is letter B. A SWOT analysis. A SWOT analysis is an activity that would be most helpful in figuring out what your company’s competitive advantages. SWOT stands for Strength, Weakness, Opportunities and Threats.

Detailed explanation-2: -Conduct customer surveys to see why consumers chose your company. It could be that you are able to offer a comparable service at a lower price, in which case it is time to review your processes to determine where you reap cost savings. Once a potential competitive advantage is identified, find out how rare it is.

Detailed explanation-3: -A Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis is a strategic planning technique designed to help you get a sense of how well-positioned a company is and where opportunities exist for it to create a competitive advantage.

Detailed explanation-4: -Helps determine competitive advantage: A competitive advantage is an attribute that gives a company a leg-up on its competitors. Performing a situation analysis requires identifying a company’s strengths, weaknesses, opportunities for growth, and the obstacles that could be standing in its way.

Detailed explanation-5: -The marketer should conduct a SWOT analysis, by which it evaluates a company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T). Strengths include internal capabilities, resources, and positive situational factors that may help a company serve its customers and achieve its objectives.