Almost 80% of business owners are clueless about the competition, resulting in a) lost market share and customers. b) needless lawsuits. c) uninspired products. d) lack of perseverance
The reason for the answer choice is because knowing your competitors will make a company to differentiate their product or services in the market, either through superior quality, low prices or strategic branding, etc to be able to improve their customer base and market share.