Answer :
Company able to identify newly emerging competitors in time to plan and execute an effective marketing strategy in response to these competitors by scanning the external environment.
What are competitors?
Competition is a lack of certainty about how to guarantee survival. Competition may develop between several types of entities, including biology, people, economic and social organizations, etc. Any exclusive aim, such as leadership, market share, niches, rare resources, or a territory, may be the subject of the conflict.
What is marketing strategy ?
An organization can focus its limited resources on the best possibilities to boost sales and gain a long-term competitive edge by using a marketing plan.
What are the 7 strategies of marketing?
These seven factors are people, place, packaging, positioning, place, and product. You should frequently review these seven Ps to ensure that you're on track and getting the best outcomes possible in the market today. This is because products, markets, customers, and demands are constantly changing.
To know more about marketing strategy visit:
https://brainly.com/question/20350382
#SPJ4
