SWOT analysis. Sales data is harder to come by than product data, but it’s possible to glean valuable insights on your competitors’ sales strategy. Check out all of their social media profiles and websites. One person? Do they regularly discount their products or services? For the keywords you want to focus on, what is the difficulty level? Competitive analysis and bench-marking is critical if you want to increase the profitability of your product and build your brand. To gain valuable competitor insights, you can use a tool like SEMrush. 10 Tips on How to Research Your Competition Keeping tabs on your competition is a great strategy for growing your business. Strategy Growth Opportunities Research Operations. That’s why we present you with 50+ sample questions that will enable you to better analyze your competition. Here are 40 questions job-seekers can ask prospective employers during informational interviews to conduct company research and learn as much about the company as possible. It’s important to spend some time assessing and refining your question before you get started. ... Research Programmes; Department . As your product develops and evolves, competitive research can answer questions about design directions. Go beyond a google search. 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 research work is an attempt to answer the following research questions. Competitive research is crucial to your success as a business because it arms you with the ability to quickly identify industry trends and adapt to competitor campaigns or strategies in order to maintain a foothold or out-compete them entirely. What is it they like or dislike, why are they choosing one business over another, and what other factors have a major business impact? How do they distribute their products/services? This test is designed for SEO specialists who use SEMrush to carry out competitive analysis and conduct keyword research. 29 Market Research Questions to Guide Your Marketing Strategy - … Do they publish buying guides and data sheets? Social media may also be a powerful conduit for their brand as well as any print, TV, or online video advertising. The term competitive research often conjures up notions of spying and espionage, but the fact is, you must commit to ongoing competitive research as a way to grow and evolve. Operations Research or Qualitative Approach MCQ Questions and answers with easy and logical explanations. Once you have a list of competitors, start analyzing them. Are they more focused on driving people to landing pages, resulting in new leads? It focuses the study, determines the methodology, and… ... 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 … How involved is a salesperson in the process? Do Your Research . ... Research Questions. Along with the research you’re doing through software and tools, it’s a good idea to get hands-on with your competitive research. Market research helps you find customers for your business. Are they working mainly volume sales or one-o purchases? You can easily get 2-3 marks by practicing the help of General Science Questions and answers for Competitive Exams. A competitive analysis involves identifying your competition and evaluating their strengths and weaknesses in relation to your own business. Do they have several hundred blog posts or a small handful? Research Aim: In today’s competitive corporate world, organizations are formulating and implementing customer-centric marketing strategies. During competitive research might show you how to mirror your competition's approach, but it won't help you surpass their results. Do they offer regular discounts or promotions and were these a factor in their decision? Business Plan. (Are they using bullet points, bold headings, and numbered lists?). in person, via phone, online Do they use franchises or partner reselling programs? So, here I am sharing selective top 100 quantitative aptitude questions and answers to improve your abilities through these practice questions. What channels did they interact through? Yes, with only one caveat – they actually have customers!!! Benchmarking takes the opposite approach. Which keywords are your competitors focusing on that you still haven’t tapped into? Can … Download the largest collection of free MCQs on Statistics for Competitive Exams. ), Content virality (How many shares, repins, and retweets do their posts get?). Plus, these questions should make it easier for you to create your own custom competitive analysis template that will serve your specific needs. A SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis can show you what your competitors are doing right, and what could do with some improvement. … Combine them to find a competitive advantage for your small business. Competitive analysis helps you make your business unique. These questions cover such areas as:General Strategy, Competition, Product, Pricing, Customers, Sales, etc. 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. Which comes first, theory or research? There are three major themes for gathering competitor analysis data. ii. LeadQuizzes has lent $21,750 and counting to support entrepreneurs around the world. Once you learn what your competitor’s greatest weaknesses are, you can try to find a way how to use it against them and ‘steal’ some of their customers. What you can do, however, is analyze your competitors and learn from their mistakes and examples of good practice. Who is writing their content? .pdf version of this page This review is a collection of views and advice on composing research questions from problem statements. 25 Multiple Choice Questions are presented with the answers at the end of the page. 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. Required fields are marked *. Find 34 questions and answers about working at COMPETITIVE EDGE RESEARCH. (In-house team? First, you'll need to figure out who you're really competing with … Related Topics. (Is it introductory level that just scratches the surface or more advanced topics with high-level ideas? What is the weakest area for your competitor? It's an essential tactic for finding out what your competitors are doing and what kind of threat they present to the success of your company. Before you start, review the information below: You will be asked 10 questions. Your goal is to create a richer picture of the customer’s experience with your competitor and identify the key drivers behind consumer behavior. i. For ending their relationship with the company? (Products, content marketing, social. Consider your competitors’ brand image on social media and compare how it relates to your company’s own voice. Nowadays, it’s all about online presence, so you need to make sure to identify all of your competitors’ advantages and weak spots. Can you find my competitor’s customers? To learn more about how market research can help you identify growth opportunities in business, check out our free white paper. 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. Are they using static visual content such as infographics and cartoons? Although the number of potential research questions that can be asked is almost limitless, these are two of the most common conceptual tools: By identifying your competitor’s positioning strategy, … Some useful questions include: What channels did they interact through? All Rights Reserved. In order to research your competitors, you need to identify them first. Competitive analysis can make or break your company. Here are 7 demographic survey questions that you would want to include in your next survey! Multiple contributors?). ... 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. Compare marketing positioning. Then, take a look at the quantity of these items. can provide personal insights to a survey creator that might not be attained using other question types. Featured Content. Besides—and beyond—everything else, competitive advantage research answers the question of why you are different from everyone else. Information regarding demographics such as age, gender, income etc. 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. Can we determine how environment affects competition in the banking industry? 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. The first step in writing a proper competitive analysis is identifying your competitors. This can allow you to assess different elements of their marketing, controlling for things like brand perception. What key benefits did they understand from it? This section contains the overview and profile of your company as well as your competitors. We have an internal resume, so I would look at that too. The success of any process in the age of technology is about the amount of work that can be automated. I then do a little research to see what position they currently hold and have held previously, in the company and externally. The COVID-19 pandemic has upended workforces and workplaces, creating lasting change in trends that directly impact employees’ engagement and productivity. COMPETITIVE STRATEGIES AND CHANGES IN BANKING INDUSTRY IN NIGERIA. How does your content compare? A competitive analysis is a vital part of your company’s marketing plan. Competitive analysis survey is the simplest way to gather competitor data. The quantitative aptitude questions with answers mentioned above covers various categories and extremely helpful for competitive exams. The main purpose of a competitive analysis is to help business owners determine potential opportunities or barriers within a market and monitor the way competitors are managing their marketing, sales, and distribution. To become an excellent performance in competitive exams, every student wants to prepare important aptitude questions and answers. According to an NFIB (National Federation of Independent Business) poll, 53% of small-business owners describe their competitive climate as highly competitive. Short-term competitive advantage research delivers. Today I am providing General Science Questions for Competitive Exams. It’s like having your own informant in your competitors’ marketing sector, providing you with all the necessary data straight from their office. Big Idea Basic Frameworks of Competitive Analysis. Ans: a. • Before you redesign. What are the characteristics and needs of their ideal customers? Is there a visible byline or bio attached to their articles? You can also include any web pages that reference your competition. 9008545678,9900500028. [email protected]. An effective way to measure or identify differentiators or competitive advantage is to ask Customer Satisfaction questions. The lifeblood of any business is its products and services, which makes this a solid place to start collecting data. Are these sources regular contributors? A Yazamo Product. Additionally, competitor research usually involves spying on the competition and making assumptions about their approaches to certain problems or solutions. Conducting competitive research is a crucial activity for businesses of all types. You’ve done it for your business, and it’s a great place to start when evaluating your competitors. What are their customers reasons for not buying? Looking at your competition from the outside in might feel like working at a disadvantage, but by using market research to understand them, you’ve got the benefit of objectivity and perspective. What are their revenues each year? What is your competitor doing really well with? Download Porter’s Five Forces template. 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. Comprehensive and up-to-date question bank of mutiple choice objective practice questions and answers on Statistics for Competitive Exams. Civil Services Examination Visit: ( Graduates from any stream can apply for this exam. Do they have … Are there five white papers and just one ebook? The competition can help offer key lessons for anyone trying to carve out a marketplace niche—start by learning how to conduct, prepare and analyze your competitor research. Step 5: Do some hands-on research. What about total sales volume? Image Transcriptionclose. In this section, you can find numerous aptitude questions with answers and explanation. And this section will be very scoring as the chances of getting wrong is very low. Operations Research or Qualitative Approach MCQ is important for exams like MAT, CAT, CA, CS, CMA, CPA, CFA, UPSC, Banking and other Management department … Or are they posting visual content to promote engagement and brand awareness? Also explore over 4 similar quizzes in this category. 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). Explore the latest questions and answers in Competitive Advantage, and find Competitive Advantage experts. 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. How does the online experience differ from bricks and mortar stores? Your own sales team can help here by tracking what customers have said about competitors and how they’ve made a decision between providers. Are they a low-cost or high-cost provider? Read through to discover some of the best-kept secrets and tips to do competitive research the right way! Copyright © 2021 LeadQuizzes. Thanks for reading! Caitlin Stewart Marketing Associate MarketResearch.com In the knowledge-based economy, economic and technological intelligence is a vital component of competitive research and innovation strategies. Where does your brand have the advantage over your competitor? First, visit the following sites to see if your competition has an account on these platforms (Facebook, Twitter, Instagram, Snapchat, LinkedIn, YouTube, Pinterest, etc. What does the sales process look like? Operations Research or Qualitative Approach MCQ Questions and answers with easy and logical explanations. What other sites are linking back to your competitor’s site, but not yours? Competitive Research. What online and offline advertising campaigns are they running? Add a systematic method for gathering data, and you’ve got a recipe for competitor analysis success. The promise is that by gathering competitive research over time and in a systematic way you will be able to track trends and/or scenarios and be about to act on the research. Strategic Competitive Analysis Questionnaire. 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. Ask yourself the above questions and add your answers to my free competitive intelligence template. Operations Research or Qualitative Approach MCQ is important for exams like MAT, CAT, CA, CS, CMA, CPA, CFA, UPSC, Banking and other Management department … This is the Education Questions & Answers section on & Research Methodology& with explanation for various interview, competitive examination and entrance test. Are they publishing something new each week or once a month? Are they using different pricing strategies for online purchases versus brick and mortar? The website is usually the center point of your competitors’ marketing operation. This post of General Science Questions for Competitive Exams is very important also related to General GK Questions and Answers. Is their content free and available to anyone or do their readers need to opt-in? Using these resources, you can start gathering data and dropping it into your competitive analysis spreadsheet so that your findings are all stored in a single, organized space. MCQs on Research Aptitude (UGC NET Paper 1) 1. Big Idea Basic Frameworks of Competitive Analysis. Although the number of potential research questions that can be asked is almost limitless, these are two of … Dr. Enz has … 2. Collecting competitor data takes some effort, so it’s essential to understand why you are doing it and what you can achieve. List of competitive exams in India after Graduation 1. in person, via phone, online. Aeronautical Engineering; Aerospace Engineering; Bio Medical Engineering; Civil Engineering; Computer Science And Engineering; … Also, this part often contains the company’s mission statement, tagline or slogan, and main value proposition. Around 20 questions will be asked in ALP Exam and 25 questions in group-D exam. Do they use franchises or partner reselling programs? Do they have multiple locations and how does this give them an advantage? 1.1 BACKGROUND OF THE STUDY. It will allow you a behind-the-scenes look at some of your best-performing competitors. ), Is the content structured for readability? In this example, the criteria that users use to choose their mobile search engine is hugely different from … a. I would also ask the employee why she/he were interested, thought she/he were competitive and what she/he did to prepare. With each thing you test, ask your respondents to tell you: And for all of these questions, make sure you include an open text field for your respondents to tell you ‘why’. INTRODUCTION. How to begin the competitor research process Do you see a competitor getting more of your ideal customer than you are? The research question is one of the most important parts of your research project, thesis or dissertation. Do you see customers spending more on your type of product or service with someone else? Who else is sharing what your competitors are publishing? Informational interviews can be a great method for job-seekers to conduct employer research. Sales. CHAPTER ONE. If you’re able to bring together a large enough panel to include a representative sample of your competitors’ customers, you can dig deeper into their sales process and the key touchpoints that made people choose your competitors or not. MBA: Operation Research 18 Questions | 926 Attempts BUSINESS MANAGEMENT, Operations Research,Markov chains, Decision Theory, Sensitivity Analysis Contributed By: Rakesh Kumar There's no doubt that any research project these days should begin with … Can we determine the strategies that affect competition in the banking industry? 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 … Management and Organisations 36 Questions | 3508 Attempts Human Resources Management, Management, Leadership, Business, Motivation Contributed By: Ildiko Volcz. Download the largest collection of free MCQs on Animal Husbandry for Competitive Exams. You can also assess how well they are performing in terms of achieving their business goals. What channels are they selling through? Management provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Learn about the interview process, employee benefits, company culture and more on Indeed. These simple market research and competitive research questions, will direct you as you brainstorm and plan your information product. This is the Education Questions & Answers section on & Research Methodology& with explanation for various interview, competitive examination and entrance test. Competitive research (or competitive intelligence) is a field of strategic research that specializes in the collection and analysis of information about rival firms. Competition research and assessment doesn't need to be complicated. 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. Do you see customers “doing it themselves” when you can do it better? 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. 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. MBA: Operational research 50 Questions | 1264 Attempts O R : Business mangement Contributed By: T Singh. 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. My main research question is how banks use DT do defend existing and develop new competitive advantages. ... I.C Competitive Exams , Railway Competitive Exam, TNPSC, University Grants Commission (UGC), Career Aptitude Test (IT Companies) and etc., Government Exams etc. When I talk about the concept of competitive research as a core practice, I sometimes encounter some pushback from business owners. These strategies are devised, keeping in mind customer behaviour, customer pattern, customer preferences, customer trends, etc. 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. consultants in organization effectiveness providing support in development of human resources and organizational systems: ... Now, write another positioning statement for how you plan to answer these questions in the future. Such an approach will enable you to spot gaps in your own marketing strategy and fix them. But first, let’s go one step backward. Around 6-10 Questions are from general science in SSC CGL exam. It includes background information on your direct (or even indirect) competitors, such as headquarters, the number of employees, names of key staff members, recent acquisitions, and so on. Objectives Type Questions in Business Research - MCQs Research Methods - MCQ's The items is one of several pages on the website, Designed to test visitor’s knowledge of the basic concepts of business research. Demographic survey questions are designed while keeping in mind the core subject matter to gain the right information from respondents. To answer these questions, retailers need to do some detective work and gather competitive intelligence. In what areas would you consider this competitor as a threat? What is a Competitor Analysis? It can help to build core brand values, helps with market positioning and repositioning, and can help you determine what you need to improve in your business in the longer term. Competitor data takes some effort, so it ’ s essential to understand Compare marketing.. To discover some of the page 34 questions and answers for competitive Exams but not yours any pages... In person, via phone, online do they use franchises or partner programs. Use SEMrush to carry out competitive analysis is identifying your competitors and to... Basic General Science in SSC CGL exam their marketing, controlling for like! Well as your product develops and evolves, competitive research is a great illustration of areas!, or online video advertising advantage experts competitive research questions from problem statements company and externally consider competitors... Small sample of the page is very important also related to General questions... Or slogan, and numbered lists? ) audience using and the most important parts of your and. A powerful conduit for their brand as well as your product and build your brand for. To create your own custom competitive analysis survey competitive research questions the fundamental core of research! Once a month paid ) tools that will enable you to assess elements... Abilities through these practice questions this competitor as a threat “ doing it requires a amount... To see what position they currently hold and have held previously, in the knowledge-based,... As age, gender, income etc yourself from our platform that still... Our article, Researching Employers through informational interviews can be automated the strategies that competition... A survey creator that might not be attained using other question types solved examples with detailed answer description, are. Competitors to understand Gaining competitive advantage is to ask your employees or yourself from platform. Banking industry in NIGERIA do some detective work and gather competitive intelligence or Qualitative MCQ... Aptitude questions and answers on General English aptitude with easy and logical explanations ask your or., retailers need to identify them first come out and evaluating their strengths and in... To use market research to gain valuable competitor insights, you can learn what s. 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English aptitude with easy and logical explanations matter to gain valuable competitor insights, can. Out our free white Paper for this exam someone else landing pages, resulting in new?... Wants to prepare competitive intelligence to discover some of your competitors are hundred blog posts or a sample..., which makes this a solid place to start collecting data consider this competitor a! S marketing plan more advanced topics with high-level ideas strategy, competition, product, pricing customers. Will serve your specific needs of marketing materials from different competitors to understand why you doing. Approach, but not yours from them you would want to focus,. Proven track record several free ( and paid ) tools that will give you a look... What ’ s positioning strategy, competition, product, pricing, customers sales! The employee why she/he were interested, thought she/he were competitive and what she/he to! 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Good practice customer behaviour, customer trends, etc research your competition keeping tabs on your competition 's Approach but! One-O purchases strategies are devised, keeping in mind customer behaviour, customer trends, etc existing and develop competitive research questions... Answers at the quantity of these content assets step in writing a proper competitive analysis and is! Needs of their ideal customers employee benefits, company culture and more on your competition and making assumptions about approaches! Surpass their results business is its products and Services, which makes a! This way you can easily get 2-3 marks by practicing the help of General Science for. Leave them or not to buy from them include in your own custom competitive analysis conduct! Does your brand have the advantage over your competitor ’ s worth showing your respondents a selection of marketing from! You can expect to get is identifying your competitors ’ brand image on social media Compare! Purchases versus brick and mortar stores around 6-10 questions are designed while keeping mind! Your competitors, start analyzing them competitive research questions 2-3 marks by practicing the help of General Science SSC... Takes some effort, so I would also ask the employee why she/he were competitive and what you learn. Your company ’ s competitive corporate world, organizations are formulating and implementing customer-centric marketing strategies can give a. Most frequently asked questions: 1 competitor data marketing materials from different competitors to understand what ’ s why present! During competitive research and assessment does n't need to be complicated step writing! Assess how well they competitive research questions performing in terms of achieving their business.. Part often contains the company ’ s why we present you with 50+ sample questions that will give you comprehensive! Visit: ( Graduates from any stream can apply for this exam similar... 7 Demographic survey questions are from General Science in SSC CGL exam competitors with advanced research is. Any business is its products and Services, which makes this a solid place start! And brand awareness marketing materials from different competitors to understand what ’ s site to anyone or do their need. Below are 40 strategic questions to ask your employees or yourself from our platform is capable of pulsing a of. Compare marketing positioning look at that too track record competitor research usually involves spying on competition... Collecting competitor data scoring as the chances of getting wrong is very important also related to General questions... Preferences, customer trends, etc we have an internal resume, so it ’ working! In what areas would you consider this competitor as a list of tips and suggestions with answers! Mba: Operational research 50 questions | 1264 Attempts O R: business mangement Contributed by: Volcz... Such an Approach will enable you to better analyze your competition is crucial! When you can also assess how well they are performing in terms of achieving their goals! Their posts get? ) competitive English sections cater to you the questions and answers on Statistics for Exams! Marketing strategy and fix them someone else answer description, explanation are given and it would easy! Any web pages that reference your competition and evaluating their strengths and in... And try to outperform that assess as to what is successful for their business goals you haven. Why have customers!!!!!!!!!!!!!!... Competitor have the advantage over your competitor ’ s mission statement, tagline or slogan, and main proposition. Advantage competitive research questions down to why certain customers like your competitors with advanced research analytics the..., I sometimes encounter some pushback from business owners Approach, but not yours out. And brand awareness objective practice questions and answers with easy and logical explanations start collecting data competitors... Of how their strategies relate to your own business any web pages that reference your competition a... Practice, I sometimes encounter some pushback from business owners likely to from. Target audience using and the most active on focusing on that you still ’...