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Optalama, a leading chain of optical stores, follows the practice of conducting surveys to study the strategies used by other optical stores in the city in which it operates. To maintain its position as the market leader, it monitors the other stores' strengths, weaknesses, and advertising and marketing campaigns. In this scenario, which of the following is Optalama most likely using _________.

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Answer: Competitive analysis

 

Explanation: In simple words, competitive analysis refers to the assessment done by an organisation regarding the strength and weakness of its current and potential competitors in the market. It helps an organisation to identify its opportunities and threats.

In the given case, Optalama is the leader in the industry and is studying the strategies of other participants to keep their position stable.

Hence, we can conclude that Optalama is doing competitive analysis.

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