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Marketing strategies: Managing competition

Justify the fundamental reasons that marketers should closely monitor the actions of rivals in order to proactively address developing issues, events, and circumstances. Provide one (1) example of such successful close monitoring to support your rationale.

Evaluate the value afforded by Lehmann and Winer's Level of Competition Model as an instrument for engendering the accurate identification and understanding of competition within the health care industry. Provide at least two (2) specific examples of Lehmann and Winer's Level of Competition Model that apply within a health care organization with which you are familiar.

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Competition Model
Justify the fundamental reasons that marketers should closely monitor the actions of rivals in order to proactively address developing issues, events, and circumstances. Provide one (1) example of such successful close monitoring to support your rationale.
Evaluate the value afforded by Lehmann and Winer's Level of Competition Model as an instrument for engendering the accurate identification and understanding of competition within the health care industry. Provide at least two (2) specific examples of Lehmann and Winer's Level of Competition Model that apply within a health care organization with which you are familiar.

Marketers should closely monitor the actions of rivals to proactivel address develping issues, events, and circumstances because keeping track of who your competitors are is crucial for the success of your business. In order to be successful, you must understand your competitor. It is important for businesses to assess the competitive landscape on a regular basis and invest time in understanding their competitors. By investing time in understanding their competitor, marketers can develp a framework for making competitive assessment, gather intelligence on their competitor rivals, and ...

Solution Summary

Marketers should closely monitor the actions of rivals to proactively address developing issues, events, and circumstances because keeping track of who your competitors are is crucial for the success of your business. In order to be successful, you must understand your competitor. It is important for businesses to assess the competitive landscape on a regular basis and invest time in understanding their competitors. By investing time in understanding their competitor, marketers can develop a framework for making competitive assessment, gather intelligence on their competitor rivals, and understanding how to position their own brand, products and company in the marketplace. This solution further discusses these concepts.

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