2. What channels are they selling through? Gaining Competitive Advantage in the Gray Zone. It’s like having your own informant in your competitors’ marketing sector, providing you with all the necessary data straight from their office. The success of any process in the age of technology is about the amount of work that can be automated. In many cases, it includes pricing details for key products and services, as well as distribution channel details (such as information on wholesalers, retailers, and affiliates). What channels did they interact through? You can also assess how well they are performing in terms of achieving their business goals. Your goal is to create a richer picture of the customer’s experience with your competitor and identify the key drivers behind consumer behavior. Ask yourself the above questions and add your answers to my free competitive intelligence template. We have an internal resume, so I would look at that too. The website is usually the center point of your competitors’ marketing operation. Informational interviews can be a great method for job-seekers to conduct employer research. ), Content engagement (Are users leaving comments or sharing their posts? i. SSC GRADUATE LEVEL TIER -I EXAM 51 Questions | 3999 Attempts Quantitative Aptitude, Decision Making, Arithmetic, Syllogisms … ... Types of questions to be included in your competitor analysis survey By documenting the outlines on which your business should be performing in the targeted market, you will be able to guide your whole team about the company attributes they should be … The lifeblood of any business is its products and services, which makes this a solid place to start collecting data. These simple market research and competitive research questions, will direct you as you brainstorm and plan your information product. can provide personal insights to a survey creator that might not be attained using other question types. Strategic Competitive Analysis Questionnaire. Do Your Research . Do they regularly discount their products or services? Do they use franchises or partner reselling programs? A competitive analysis is a research process that uncovers who your competitors are and how their products, positioning, strengths, and weaknesses compare to your brand. ... She recently served as Associate Dean for Industry Research and Affairs, and served as the Executive Director of the school’s Center for Hospitality Research from 2000-2003. What is a Competitor Analysis? Caitlin Stewart Marketing Associate MarketResearch.com A SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis can show you what your competitors are doing right, and what could do with some improvement. iii. For ending their relationship with the company? The Ultimate Guide to World Class Brand Tracking, AI for Marketing - The Wonder and the Worry, Qualtrics and SAP’s new mission as a ‘system of action’ – exclusive interview, Demographic Segmentation: How to create and use it. Question 5 Based on market research, a film production company (monopolistically competitive firm) in Ectenia obtains the following information about the demand and production costs of its new DVD: Demand: P = 1,000 - 10Q Total Revenue: TR = 1,000Q – 10Q2 Marginal Revenue: MR = 1,000 – 20Q Marginal Cost: MC= 100 + 10Q where Q indicates the … Indian Economic. In the knowledge-based economy, economic and technological intelligence is a vital component of competitive research and innovation strategies. Image Transcriptionclose. Thanks for reading! All of your competitors can be divided into two basic categories – direct and indirect. Which comes first, theory or research? MCQs on Research Aptitude (UGC NET Paper 1) 1. This is the Education Questions & Answers section on & Research Methodology& with explanation for various interview, competitive examination and entrance test. How in-depth does their content go? Who else is sharing what your competitors are publishing? Conduct … So, here I am sharing selective top 100 quantitative aptitude questions and answers to improve your abilities through these practice questions. A competitive analysis involves identifying your competition and evaluating their strengths and weaknesses in relation to your own business. First, visit the following sites to see if your competition has an account on these platforms (Facebook, Twitter, Instagram, Snapchat, LinkedIn, YouTube, Pinterest, etc. Management provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Competitive analysis can make or break your company. Here are answers to three of our most frequently asked questions: 1. We’ve divided these questions into several sections, depending on the issue they try to explore: Most of these sample questions have been borrowed from this awesome guide on how to start a competitive analysis, so make sure to check it out for some additional information. Are there five white papers and just one ebook? The first step in writing a proper competitive analysis is identifying your competitors. Find 34 questions and answers about working at COMPETITIVE EDGE RESEARCH. Read through to discover some of the best-kept secrets and tips to do competitive research the right way! Learn how to protect your business … New research on competitive advantage from Harvard Business School faculty on issues including the economic damage caused by America's political dysfunction, the importance of a strong manufacturing sector, and how collaboration serves as a new and important source of competitive advantage. Where does your brand have the advantage over your competitor? Analyzing your competition allows you to identify and emphasize your own relative strengths to stand out in your customers minds in any number of competencies, whether price, quality, or service. Information on their product range, prices and quality should be freely available, as should details of any special offers or loyalty programs they offer. As a theoretical basis, I want to use the Dynamic Capabilities theory. Why have customers chosen to leave them or not to buy from them? What other sites are linking back to your competitor’s site, but not yours? Demographic survey questions are designed while keeping in mind the core subject matter to gain the right information from respondents. It will allow you a behind-the-scenes look at some of your best-performing competitors. (Are they using bullet points, bold headings, and numbered lists?). Related Topics. All Rights Reserved. Using SurveyMonkey’s competitor research survey template can help you find out how your offering compares to your competitors’ in the eyes of your consumers, which has several potential benefits. Or are they posting visual content to promote engagement and brand awareness? a. These strategies are devised, keeping in mind customer behaviour, customer pattern, customer preferences, customer trends, etc. 10 Tips on How to Research Your Competition Keeping tabs on your competition is a great strategy for growing your business. ... I.C Competitive Exams , Railway Competitive Exam, TNPSC, University Grants Commission (UGC), Career Aptitude Test (IT Companies) and etc., Government Exams etc. A competitive analysis is a vital part of your company’s marketing plan. INTRODUCTION. This test is designed for SEO specialists who use SEMrush to carry out competitive analysis and conduct keyword research. Where does your competitor have the advantage over your brand? Management provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Why You Need to Do Competitive Analysis (and How to Gain Competitor Insights), 5 Main Parts of a Competitive Analysis Template, 50+ Sample Questions to Ask in Your Competitive Analysis, 5+ Competitor Analysis Templates from Template.net, Online Strategy Competitive Analysis Template, Small Business Competitive Analysis Template, Hootsuite’s Competitive Analysis Template for Social Media, Pizza Restaurants Competitive Analysis Sample, Ride-sharing Mobile Apps Competitive Analysis Sample, Website Builders Competitive Analysis Sample, Business Online Learning Competitor Analysis Template, 40 Great Competitive Analysis Templates in Excel, Word, PDF or PPT. But first, let’s go one step backward. Competitive research (or competitive intelligence) is a field of strategic research that specializes in the collection and analysis of information about rival firms. ii. In order to make this process as easy for you as possible, we’ve prepared more than 50 research questions to make sure you do your competitor analysis the right way, as well as 50 competitive analysis template ideas to make sure you document your findings properly. There are several free (and paid) tools that will give you a comprehensive evaluation of your competitor’s search engine optimization. My main research question is how banks use DT do defend existing and develop new competitive advantages. Competitive English sections cater to you the questions and answers on general English Aptitude with easy and logical explanations. Today I am providing General Science Questions for Competitive Exams. Research Aim: In today’s competitive corporate world, organizations are formulating and implementing customer-centric marketing strategies. MBA: Operational research 50 Questions | 1264 Attempts O R : Business mangement Contributed By: T Singh. When I talk about the concept of competitive research as a core practice, I sometimes encounter some pushback from business owners. It can help you find out what’s unique your competitor’s product or service so that you can use this information to further improve your own product or service. Nowadays, with so many competitors and new businesses appearing every day, it’s hard to ‘reinvent the wheel’ and come up with the next big idea that will outshine everyone else’s. To learn more about how market research can help you identify growth opportunities in business, check out our free white paper. Also, this part often contains the company’s mission statement, tagline or slogan, and main value proposition. Sales data is harder to come by than product data, but it’s possible to glean valuable insights on your competitors’ sales strategy. Semrush Competitive Analysis and Keyword Research Test Answers. Are they publishing something new each week or once a month? Your own sales team can help here by tracking what customers have said about competitors and how they’ve made a decision between providers. It’s important to spend some time assessing and refining your question before you get started. Short-term competitive advantage research delivers. Are there opportunities in the market that your competitor has identified. A Yazamo Product. quiz which has been attempted 5809 times by avid quiz takers. Big Idea Basic Frameworks of Competitive Analysis. Do they offer regular discounts or promotions and were these a factor in their decision? Identify your competitor’s market positioning. Manually doing it requires a humongous amount of time and other resources. 6 questions to determine competitive advantage 06 MARCH 2011 9:44 PM The ability of resources or capabilities to lead to a sustainable competitive advantage depends on the answers to these six questions. An effective way to measure or identify differentiators or competitive advantage is to ask Customer Satisfaction questions. Do you see customers spending more on your type of product or service with someone else? The COVID-19 pandemic has upended workforces and workplaces, creating lasting change in trends that directly impact employees’ engagement and productivity. .pdf version of this page This review is a collection of views and advice on composing research questions from problem statements. Do you see customers “doing it themselves” when you can do it better? Operations Research or Qualitative Approach MCQ Questions and answers with easy and logical explanations. ), Content virality (How many shares, repins, and retweets do their posts get?). E.g. I would also ask the employee why she/he were interested, thought she/he were competitive and what she/he did to prepare. To answer these questions, retailers need to do some detective work and gather competitive intelligence. First, you'll need to figure out who you're really competing with … What are the characteristics and needs of their ideal customers? The quantitative aptitude questions with answers mentioned above covers various categories and extremely helpful for competitive exams. 9008545678,9900500028. admission@acsce.edu.in. To help target the most useful information, consider questions like: You can also look for key differences between their products and yours – try to identify why consumers choose them over you and be specific about particular product features or aspects of their services. Are they more focused on driving people to landing pages, resulting in new leads? in person, via phone, online Do they use franchises or partner reselling programs? Multiple contributors?). Featured Content. In this section, you can find numerous aptitude questions with answers and explanation. In what areas would you consider this competitor as a threat? During competitive research might show you how to mirror your competition's approach, but it won't help you surpass their results. Using these six questions can help hotel leaders determine whether given resources or capabilities have the potential to deliver a sustainable competitive advantage. Are they using static visual content such as infographics and cartoons? E.g. Go beyond a google search. These questions cover such areas as:General Strategy, Competition, Product, Pricing, Customers, Sales, etc. Check out all of their social media profiles and websites. Operations Research or Qualitative Approach MCQ is important for exams like MAT, CAT, CA, CS, CMA, CPA, CFA, UPSC, Banking and other Management department … Once you have a list of competitors, start analyzing them. … What you can do, however, is analyze your competitors and learn from their mistakes and examples of good practice. What is it they like or dislike, why are they choosing one business over another, and what other factors have a major business impact? Compare marketing positioning. 29 Market Research Questions to Guide Your Marketing Strategy - … Comprehensive and up-to-date question bank of mutiple choice objective practice questions and answers on Statistics for Competitive Exams. (Products, content marketing, social. MBA: Operation Research 18 Questions | 926 Attempts BUSINESS MANAGEMENT, Operations Research,Markov chains, Decision Theory, Sensitivity Analysis Contributed By: Rakesh Kumar Below are 40 strategic questions to ask your employees or yourself from our platform that you can use that evaluate strategy comprehensively. Comprehensive and up-to-date question bank of mutiple choice objective practice questions and answers on Animal Husbandry for Competitive Exams. What is the weakest area for your competitor? A competitive analysis is all about asking the right questions and obtaining quality answers on your competitors, with the aim of advancing your own business. Social media may also be a powerful conduit for their brand as well as any print, TV, or online video advertising. Competitive analysis survey is the simplest way to gather competitor data. Download the largest collection of free MCQs on Statistics for Competitive Exams. In such a climate, a competitive analysis is a powerful tool that can give you leverage over other businesses in your industry. – just a small sample of the areas that our platform is capable of pulsing. In some cases, you might want to anonymize the assets you show – say for example you want to understand how consumers respond to their print advertising you could show them with the brand names removed, or just get their reactions to straplines, special offers and other parts of the advertising. in person, via phone, online. What are their revenues each year? It’s worth showing your respondents a selection of marketing materials from different competitors to understand what’s working well for them. Do they offer regular discounts or promotions and were these a factor in their decision? It focuses the study, determines the methodology, and… What about total sales volume? What are their customers reasons for not buying? ... Research Programmes; Department . The more time you send testing your product ideas before you create them, the more likely you’ll be to create a product that the market desperately wants to buy. This section describes the products and services offered. Are these sources regular contributors? This allows you to gather deep insights about what lies behind their responses – you can analyze these automatically using text analytics to surface key topics and sentiment so there’s no need to spend days sifting through all the comments. As technology market research experts, we get a lot of inquiries about competitive research projects. (Is it introductory level that just scratches the surface or more advanced topics with high-level ideas? By doing so, you eliminate the guesswork from your strategy and base your campaigns on data with a proven track record. Are they using different pricing strategies for online purchases versus brick and mortar? In order to research your competitors, you need to identify them first. It is an analysis of your competitors and comparison of how their strategies relate to your own. This is the Education Questions & Answers section on & Research Methodology& with explanation for various interview, competitive examination and entrance test. What content of theirs is highly shared and linked to? In the simplest of terms, competitive advantage comes down to why certain customers like your competitors better than you. 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