What are the key factors for competitive success and why?
Note: Need 600 words, references and In-text citations.
Businesses looking to attain competitive success need to incorporate certain elements, including understanding their core products and services. Aside from knowing their products, organizations also have to assess long and short-term market trends to determine what they need to do to appeal to customers. Companies must also focus on the right competitors because this will allow the organization to develop counterproductive means of being competitive in the market. Finally, organizations do not respond too hastily to competitive analysis because this could lead to more problems.