PMI Professional in Business Analysis PMI-PBA Question # 37 Topic 4 Discussion

Competitive analysis is a technique to compare the strengths and weaknesses of similar products or services offered by competitors in the same market. Competitive analysis can help to identify opportunities, threats, and gaps in the market, and to develop strategies to increase sales and customer satisfaction. Competitive analysis can be used to identify solutions for the startup company that sells organic vegetable and fruit smoothies by comparing their best-selling juice with similar products offered by competitors. The other techniques are not suitable for this purpose. Benchmarking is a technique to compare the performance of a product, service, or process with a standard or best practice. Trend analysis is a technique to analyze historical data or patterns to forecast future outcomes or behaviors. Focus group is a technique to elicit opinions, preferences, or feedback from a representative group of customers or users. References: PMI-PBA® Examination Content Outline, page 11; PMI-PBA® Reference List, page 1, BABOK® Guide v3, page 51.