Almost 80% of business owners are clueless about the competition, resulting in

Question

Business

Nathaly Parks

21 November, 18:13

Almost 80% of business owners are clueless about the competition, resulting in

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Answers (1)

Know the Answer?

Destiny Wright · Answer 1

The correct answer would be lost market share and customers.

Explanation:

When companies start their business and their business starts to boom, they usually get busy in making their products better and better and usually forget to keep an active eye on the competition they have in the markets. Almost 80% of the business owners are clueless about the competition. Due to this negligence, companies start to loose their market share as well as the customers, because they don't have idea about what their competitors have introduced in the market and what strategies they have used to compete in the market.