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    Information Gathering Methods and the Competition

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    I need help evaluating each of the following approaches that a business firm could use to gather information about competition. For each approach, I need to mark a feeling about its appropriateness using the following scale:

    1. definitely not appropriate, 2. probably not appropriate, 3. undecided, 4. probably appropriate, and 5. definitely appropriate

    The business firm should try to get useful information about competitors by:

    _____ Careful study of trade journals

    _____ Wiretapping the telephones of competitors

    _____ Posing as a potential customer to competitors

    _____ Getting loyal customers to put out a phone "request for proposal" soliciting competitors' bids

    _____ Buying competitors' products and taking them apart

    _____ Hiring management consultants who have worked for competitors

    _____ Rewarding competitors' employees for useful "tips"

    _____ Questioning competitors' customers and/or suppliers

    _____ Buying and analyzing competitors' garbage

    _____ Advertising and interviewing for nonexistent jobs

    _____ Taking public tours of competitors' facilities

    _____ Releasing false information about the company in order to confuse competitors.

    _____ Questioning competitors' technical people at trade shows and conferences

    _____ Hiring key people away from competitors

    _____ Analyzing competitors' labor union contracts

    _____ Having employees date persons who work for competitors

    _____ Studying aerial photographs of competitors' facilities

    After marking each of the preceding approaches, indicate for any 5, 4, 2, or 1, why you thought these acts were either appropriate or inappropriate.

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    https://brainmass.com/business/business-philosophy-and-ethics/information-gathering-methods-and-the-competition-40019

    Solution Preview

    Please refer to response attached, which is also presented below. I hope this helps and take care.

    RESPONSE:

    I need help evaluating each of the following approaches that a business firm could use to gather information about competition. For each approach, I need to mark a feeling about its appropriateness using the following scale: 1. definitely not appropriate, 2. probably not appropriate, 3. undecided, 4. probably appropriate, and 5. definitely appropriate The business firm should try to get useful information about competitors by:
    __5__ Careful study of trade journals (i.e., learn as much as possible about the competition)
    __1__ Wiretapping the telephones of competitors (i.e., illegal in most states and invasion of privacy is unethical and definitely not best business practice)
    __4__ Posing as a potential customer to competitors (i.e., gathering information from the competition ...

    Solution Summary

    This solution evaluates 17 information-gathering methods using a 5-point Likert-type scale in terms of the appropriateness e.g. right or wrong ethically. Specifically, it evaluates methods used by business firms to collect information about the competitors and also explains why each method is evaluated as it is.

    $2.19

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