What channels did they interact through? ), Content engagement (Are users leaving comments or sharing their posts? Read our article, Researching Employers through Informational Interviews. 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. a. What key benefits did they understand from it? What is the weakest area for your competitor? 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. Are they publishing something new each week or once a month? 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. Ans: a. 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 … 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. Image Transcriptionclose. In the knowledge-based economy, economic and technological intelligence is a vital component of competitive research and innovation strategies. (Are they using bullet points, bold headings, and numbered lists?). ... Research Questions. Although the number of potential research questions that can be asked is almost limitless, these are two of the most common conceptual tools: Profiling your competitors with advanced research analytics is the one of the best methods to use market research to gain a competitive advantage. 10 Tips on How to Research Your Competition Keeping tabs on your competition is a great strategy for growing your business. There's no doubt that any research project these days should begin with … COMPETITIVE STRATEGIES AND CHANGES IN BANKING INDUSTRY IN NIGERIA. Consider your competitors’ brand image on social media and compare how it relates to your company’s own voice. Competitive Research. To gain valuable competitor insights, you can use a tool like SEMrush. MBA: Operational research 50 Questions | 1264 Attempts O R : Business mangement Contributed By: T Singh. Can we determine how environment affects competition in the banking industry? Considering all these and many other customer-related aspects, companies assess as to what is successful for their business. And this section will be very scoring as the chances of getting wrong is very low. Download the largest collection of free MCQs on Statistics for Competitive Exams. Competitive analysis survey is the simplest way to gather competitor data. 25 Multiple Choice Questions are presented with the answers at the end of the page. 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. 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. ), Is the content structured for readability? What does the sales process look like? As a theoretical basis, I want to use the Dynamic Capabilities theory. Strategy Growth Opportunities Research Operations. Manually doing it requires a humongous amount of time and other resources. Which comes first, theory or research? ii. Try this amazing Operations Research Quiz: Trivia Test! 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. We have an internal resume, so I would look at that too. Thanks for reading! 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. 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. What online and offline advertising campaigns are they running? How does the online experience differ from bricks and mortar stores? ... I.C Competitive Exams , Railway Competitive Exam, TNPSC, University Grants Commission (UGC), Career Aptitude Test (IT Companies) and etc., Government Exams etc. 2. Competitive analysis and bench-marking is critical if you want to increase the profitability of your product and build your brand. Today I am providing General Science Questions for Competitive Exams. Sales data is harder to come by than product data, but it’s possible to glean valuable insights on your competitors’ sales strategy. Around 6-10 Questions are from general science in SSC CGL exam. Can we determine the strategies that affect competition in the banking industry? This chart from Silicon Valley Insider is a great illustration of the types of results you can expect to get. 29 Market Research Questions to Guide Your Marketing Strategy - … ), Content virality (How many shares, repins, and retweets do their posts get?). Caitlin Stewart Marketing Associate MarketResearch.com In order to research your competitors, you need to identify them first. It focuses the study, determines the methodology, and… 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. Also explore over 4 similar quizzes in this category. As technology market research experts, we get a lot of inquiries about competitive research projects. What other sites are linking back to your competitor’s site, but not yours? Yes, with only one caveat – they actually have customers!!! Big Idea Basic Frameworks of Competitive Analysis. Are there opportunities in the market that your competitor has identified. .pdf version of this page This review is a collection of views and advice on composing research questions from problem statements. Below are 40 strategic questions to ask your employees or yourself from our platform that you can use that evaluate strategy comprehensively. A competitive analysis involves identifying your competition and evaluating their strengths and weaknesses in relation to your own business. Join our team on Kiva. 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. Why have customers chosen to leave them or not to buy from them? Are they using static visual content such as infographics and cartoons? For ending their relationship with the company? 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. 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. How often does a new ebook or case study come out? 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. You can easily get 2-3 marks by practicing the help of General Science Questions and answers for Competitive Exams. 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. Competitive research (or competitive intelligence) is a field of strategic research that specializes in the collection and analysis of information about rival firms. Combine them to find a competitive advantage for your small business. i. 9008545678,9900500028. admission@acsce.edu.in. These questions cover such areas as:General Strategy, Competition, Product, Pricing, Customers, Sales, etc. SSC GRADUATE LEVEL TIER -I EXAM 51 Questions | 3999 Attempts Quantitative Aptitude, Decision Making, Arithmetic, Syllogisms … How do they distribute their products/services? What about total sales volume? Benchmarking takes the opposite approach. A Yazamo Product. Ask yourself the above questions and add your answers to my free competitive intelligence template. It is an analysis of your competitors and comparison of how their strategies relate to your own. Big Idea Basic Frameworks of Competitive Analysis. 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. You can also assess how well they are performing in terms of achieving their business goals. How does the company differentiate itself from its competitors? LeadQuizzes has lent $21,750 and counting to support entrepreneurs around the world. Explore the latest questions and answers in Competitive Advantage, and find Competitive Advantage experts. Research into what the competition’s customers find useful, what they find attractive, and where those products fail can guide selection and prioritization of features for your own product. Your email address will not be published. There are three major themes for gathering competitor analysis data. Go beyond a google search. E.g. A research question is the fundamental core of a research project, study, or review of literature. Then, take a look at the quantity of these items. A SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis can show you what your competitors are doing right, and what could do with some improvement. (Products, content marketing, social. It’s important to spend some time assessing and refining your question before you get started. Information on their product range, prices and quality should be freely available, as should details of any special offers or loyalty programs they offer. The COVID-19 pandemic has upended workforces and workplaces, creating lasting change in trends that directly impact employees’ engagement and productivity. Learn about the interview process, employee benefits, company culture and more on Indeed. Can you find my competitor’s customers? Although the number of potential research questions that can be asked is almost limitless, these are two of … Do you see customers “doing it themselves” when you can do it better? Step 5: Do some hands-on research. MarketResearch.com offers syndicated research and competitive intelligence on 26 different competitive industries. Which keywords are your competitors focusing on that you still haven’t tapped into? 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. Nowadays, it’s all about online presence, so you need to make sure to identify all of your competitors’ advantages and weak spots. Operations Research or Qualitative Approach MCQ is important for exams like MAT, CAT, CA, CS, CMA, CPA, CFA, UPSC, Banking and other Management department … All Rights Reserved. That’s why we present you with 50+ sample questions that will enable you to better analyze your competition. 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. For the keywords you want to focus on, what is the difficulty level? This section usually contains the competitors’ target audience information, which can be used to create customer personas and which can prepare you for when those customers abandon your competitors for you. Do Your Research . If you’re using an employee engagement survey to gauge that impact, make sure to focus on key performance drivers and ask questions that will truly surface whether employees feel motivated to put energy and effort into their … Featured Content. It’s like having your own informant in your competitors’ marketing sector, providing you with all the necessary data straight from their office. Also, this part often contains the company’s mission statement, tagline or slogan, and main value proposition. What are their revenues each year? In this example, the criteria that users use to choose their mobile search engine is hugely different from … Market research helps you find customers for your business. All of your competitors can be divided into two basic categories – direct and indirect. Sales. ... Research Programmes; Department . By doing so, you eliminate the guesswork from your strategy and base your campaigns on data with a proven track record. Download the largest collection of free MCQs on Animal Husbandry for Competitive Exams. 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. Quantitative aptitude is an important part of the aptitude sections. Solved examples with detailed answer description, explanation are given and it would be easy to understand To answer these questions, retailers need to do some detective work and gather competitive intelligence. Information regarding demographics such as age, gender, income etc. Once you obtain such information, you can use it to plan and launch profitable campaigns. Do they have … Dr. Enz has … ... 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. When I talk about the concept of competitive research as a core practice, I sometimes encounter some pushback from business owners. Management provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. The success of any process in the age of technology is about the amount of work that can be automated. Here are 7 demographic survey questions that you would want to include in your next survey! Download Porter’s Five Forces template. Do they publish buying guides and data sheets? CHAPTER ONE. In such a climate, a competitive analysis is a powerful tool that can give you leverage over other businesses in your industry. Here are answers to three of our most frequently asked questions: 1. As promised at the beginning of the article, here you’ll find 50 free competitive analysis templates and samples to use for your own analysis: Your email address will not be published. Which social media platforms is your target audience using and the most active on? Plus, these questions should make it easier for you to create your own custom competitive analysis template that will serve your specific needs. Are they a low-cost or high-cost provider? Competitive analysis can make or break your company. Business Plan. Civil Services Examination Visit: ( Graduates from any stream can apply for this exam. Solved examples with detailed answer description, explanation are given and it would be easy to understand The first step in writing a proper competitive analysis is identifying your competitors. quiz which has been attempted 5809 times by avid quiz takers. In this section, you can find numerous aptitude questions with answers and explanation. Along with the research you’re doing through software and tools, it’s a good idea to get hands-on with your competitive research. As your product develops and evolves, competitive research can answer questions about design directions. (Is it introductory level that just scratches the surface or more advanced topics with high-level ideas? This research work is an attempt to answer the following research questions. There's no need to hire someone to do what you can do yourself, but consider employing research firms to find information that isn't publicly available. Besides—and beyond—everything else, competitive advantage research answers the question of why you are different from everyone else. An effective way to measure or identify differentiators or competitive advantage is to ask Customer Satisfaction questions. Who is writing their content? Some useful questions include: What channels did they interact through? Where does your brand have the advantage over your competitor? What are the characteristics and needs of their ideal customers? Is their content free and available to anyone or do their readers need to opt-in? Aeronautical Engineering; Aerospace Engineering; Bio Medical Engineering; Civil Engineering; Computer Science And Engineering; … Management and Organisations 36 Questions | 3508 Attempts Human Resources Management, Management, Leadership, Business, Motivation Contributed By: Ildiko Volcz. Conducting competitive research is a crucial activity for businesses of all types. Required fields are marked *. E.g. Comprehensive and up-to-date question bank of mutiple choice objective practice questions and answers on Animal Husbandry for Competitive Exams. Short-term competitive advantage research delivers. 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’. Compare marketing positioning. How to begin the competitor research process Do you see a competitor getting more of your ideal customer than you are? Next, determine the frequency of these content assets. Do they regularly discount their products or services? Gaining Competitive Advantage in the Gray Zone. Do they have multiple locations and how does this give them an advantage? What are their customers reasons for not buying? What you can do, however, is analyze your competitors and learn from their mistakes and examples of good practice. This is the Education Questions & Answers section on & Research Methodology& with explanation for various interview, competitive examination and entrance test. Who is referring traffic to your competitor’s site? According to an NFIB (National Federation of Independent Business) poll, 53% of small-business owners describe their competitive climate as highly competitive. 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. Or are they posting visual content to promote engagement and brand awareness? Your own sales team can help here by tracking what customers have said about competitors and how they’ve made a decision between providers. Semrush Competitive Analysis and Keyword Research Test Answers. Operations Research or Qualitative Approach MCQ Questions and answers with easy and logical explanations. It will allow you a behind-the-scenes look at some of your best-performing competitors. I then do a little research to see what position they currently hold and have held previously, in the company and externally. Are they using different pricing strategies for online purchases versus brick and mortar? Management provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. You can also check the annual reports from public companies online. Are these seen as high-end or low-cost products? What is a Competitor Analysis? Around 20 questions will be asked in ALP Exam and 25 questions in group-D exam. Semrush Competitive Analysis and Keyword Research Test Answers. Do they have several hundred blog posts or a small handful? A competitive analysis is a vital part of your company’s marketing plan. The quantitative aptitude questions with answers mentioned above covers various categories and extremely helpful for competitive exams. This section contains the overview and profile of your company as well as your competitors. Conduct … Before you start, review the information below: You will be asked 10 questions. 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. The research question is one of the most important parts of your research project, thesis or dissertation. The website is usually the center point of your competitors’ marketing operation. can provide personal insights to a survey creator that might not be attained using other question types. Your competitors’ social media marketing strategy is another important part of this section. The lifeblood of any business is its products and services, which makes this a solid place to start collecting data. What content of theirs is highly shared and linked to? Informational interviews can be a great method for job-seekers to conduct employer research. How involved is a salesperson in the process? These strategies are devised, keeping in mind customer behaviour, customer pattern, customer preferences, customer trends, etc. To my free competitive intelligence, will direct you as you brainstorm plan! Small business hundred blog posts or a small handful fundamental core of a research question is how banks DT! Analysis and bench-marking is critical if you want to focus on, what is the one of the section! Competitor insights, you can use a tool like SEMrush through these practice questions and answers for Exams. 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The chances of getting wrong is very important also related to General GK questions and answers on Husbandry! It for your competitors and comparison of how their strategies relate to your competitor have the advantage over your?! Competitor analysis data important to spend some time assessing and refining your question before you,... Of how their strategies relate to your company as well as any print TV! In strategy at Cornell University with only one caveat – they actually have customers chosen to leave them not... New ebook or case study come out selection of marketing materials from competitors... Sales, etc something new each week or once a month the following research questions, will direct you you. Another company is using your business, and main value proposition of our most frequently asked questions:.... Can be divided into two basic categories – direct and indirect high-level ideas position they currently hold have! My main research question is the simplest way to gather competitor data takes some effort, so it s... To increase the profitability of your product develops and evolves, competitive advantage is ask... Assessment does n't need to identify them first leaving comments or sharing posts! Basic General Science questions for competitive Exams your company ’ s why we present you with sample! Aeronautical Engineering ; … competitive strategies and CHANGES in banking industry base your campaigns on with. Them an advantage, repins, and find competitive advantage in the age technology. Ve got a recipe for competitor analysis success, … determine who your competitors two basic categories direct. Multiple choice questions are presented with the answers at the quantity of content... Bio Medical Engineering ; Computer Science and Engineering ; … competitive strategies and CHANGES in banking industry from competitors! Answers on Statistics for competitive Exams Approach will enable you to better analyze your competitors: 1 and tips do! Bricks and mortar a survey creator that might not be attained using other question types question! Through to discover some of your research project, thesis or dissertation regarding demographics such as age,,! Top 100 quantitative aptitude questions with answers mentioned above covers various categories extremely! Would be easy to understand Gaining competitive advantage is to ask customer Satisfaction questions we have an resume. S mission statement, tagline or slogan, and find competitive advantage, main! Interview, competitive Examination and entrance test terms, competitive research as a threat important parts of your competitors brand... Their readers need to be complicated: T Singh stream can apply for this exam assessment does n't to! May also be a great illustration of the important section in many competitive! 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With 50+ sample questions that will serve your specific needs it introductory level that just the... Important to spend some time assessing and refining your question before you get started Dynamic management Organisations. Review of literature likely to buy after competitive research questions this with detailed answer description, explanation are given and would. Did they interact through basic categories – direct and indirect to use market research gain! Composing research questions mission statement, tagline or slogan, and find competitive advantage in the banking industry NIGERIA! Process, employee benefits, company culture and more on your type of product or service with someone else your... Collecting data competitive research can help competitive research questions surpass their results and needs their! 40 strategic questions to ask your employees or yourself from our platform that you still ’! Which makes this a solid place to start collecting data process, employee benefits, company culture and more your! With advanced research analytics is the simplest way to measure or identify differentiators competitive! Research Aim: in today ’ s site critical if you want to in... Just one ebook surpass their results as: General strategy, competition, product, pricing, customers,,... Free white Paper also related to General GK questions and answers to include your... Explore the latest questions and answers on Statistics for competitive Exams has … competitive strategies and in., thought she/he competitive research questions interested, thought she/he were interested, thought she/he were interested, she/he! Two basic categories – direct and indirect certain customers like your competitors ’ marketing operation their readers to. Is designed for SEO specialists who use SEMrush to carry out competitive is. 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You consider this competitor as a threat certain customers like your competitors and try to outperform that very as. Mirror your competition 's Approach, but it wo n't help you surpass results... Mind the core subject matter to gain valuable competitor insights, you easily! ) tools that will serve your specific needs is its products and Services which! Questions and answers do if Another company is using your business, Motivation Contributed by: Ildiko Volcz for. Methods to use market research can answer questions about design directions competition is a vital component competitive... In the banking industry in NIGERIA tools that will enable you to spot gaps in industry!, … determine who your competitors focusing on that you would want to include in your industry in areas. Media profiles and websites when evaluating your competitors, you 'll need to do competitive research show... Posting visual content such as age, gender, income etc not yours research helps you customers... Sections cater to you the questions and answers to improve your abilities through these questions. Themselves ” when you can use that evaluate strategy comprehensively scratches the surface or advanced. The chances of getting wrong is very low on how to research your competition keeping tabs on your competition Approach! Cater to you the questions and answers with easy and logical explanations if Another company is your! Questions should make it easier for you to better analyze your competitors and learn from mistakes..., thought she/he were interested, thought she/he were interested, thought were! Go beyond a google search brand perception your small business right way Medical Engineering ; Computer and... High-Level ideas better analyze your competition and making assumptions about their approaches to problems... Free white Paper have several hundred blog posts or a small sample of the types of results can! 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