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    Evaluate each of the following approaches that a business firm could use to gather information about competition.

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    Evaluate each of the following approaches that a business firm could use to gather information about competition. For each approach, mark your 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.

    © BrainMass Inc. brainmass.com June 3, 2020, 5:55 pm ad1c9bdddf
    https://brainmass.com/business/business-policy-and-implementation/42483

    Solution Preview

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

    5 Careful study of trade journals

    1 Wiretapping the telephones of competitors

    4 Posing as a potential customer to competitors

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

    1 Buying competitors' products and taking them apart

    4 Hiring management consultants who have worked for competitors

    1 Rewarding competitors' employees for useful "tips"

    4 Questioning competitors' customers and/or suppliers

    3 Buying and analyzing competitors' garbage

    3 Advertising and interviewing for nonexistent jobs

    4 Taking public tours of competitors' facilities

    2 Releasing false information about the company ...

    Solution Summary

    Here is just a sample of what you'll find in this solution:

    "Posing as a potential customer, learning rates and deals is appropriate since there is actually nothing secret or hidden. It can give us ideas about their pricing strategy and marketing methods. Buying competitors products and testing them is..."

    $2.19

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