Do they share curated content from other sources? Gaining Competitive Advantage in the Gray Zone. This is the Education Questions & Answers section on & Research Methodology& with explanation for various interview, competitive examination and entrance test. Competitive analysis helps you make your business unique. You can also assess how well they are performing in terms of achieving their business goals. This can allow you to assess different elements of their marketing, controlling for things like brand perception. How does the online experience differ from bricks and mortar stores? I then do a little research to see what position they currently hold and have held previously, in the company and externally. Consider your competitors’ brand image on social media and compare how it relates to your company’s own voice. Who is referring traffic to your competitor’s site? What are their revenues each year? As technology market research experts, we get a lot of inquiries about competitive research projects. Are they working mainly volume sales or one-o purchases? In such a climate, a competitive analysis is a powerful tool that can give you leverage over other businesses in your industry. 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 … Solved examples with detailed answer description, explanation are given and it would be easy to understand Competitive research (or competitive intelligence) is a field of strategic research that specializes in the collection and analysis of information about rival firms. Profiling your competitors with advanced research analytics is the one of the best methods to use market research to gain a competitive advantage. Benchmarking takes the opposite approach. 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. The quantitative aptitude questions with answers mentioned above covers various categories and extremely helpful for competitive exams. What to Do if Another Company is Using Your Business Name. Ask yourself the above questions and add your answers to my free competitive intelligence template. Who is writing their content? MarketResearch.com offers syndicated research and competitive intelligence on 26 different competitive industries. … 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. What are the characteristics and needs of their ideal customers? Operations Research or Qualitative Approach MCQ is important for exams like MAT, CAT, CA, CS, CMA, CPA, CFA, UPSC, Banking and other Management department … Learn about the interview process, employee benefits, company culture and more on Indeed. In this section, you can find numerous aptitude questions with answers and explanation. ... I.C Competitive Exams , Railway Competitive Exam, TNPSC, University Grants Commission (UGC), Career Aptitude Test (IT Companies) and etc., Government Exams etc. You can also check the annual reports from public companies online. Do they use franchises or partner reselling programs? It will allow you a behind-the-scenes look at some of your best-performing competitors. Identify your competitor’s market positioning. 25 Multiple Choice Questions are presented with the answers at the end of the page. 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. in person, via phone, online. .pdf version of this page This review is a collection of views and advice on composing research questions from problem statements. Which comes first, theory or research? Business Plan. What you can do, however, is analyze your competitors and learn from their mistakes and examples of good practice. In order to research your competitors, you need to identify them first. For the keywords you want to focus on, what is the difficulty level? The success of any process in the age of technology is about the amount of work that can be automated. This chart from Silicon Valley Insider is a great illustration of the types of results you can expect to get. 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. SSC GRADUATE LEVEL TIER -I EXAM 51 Questions | 3999 Attempts Quantitative Aptitude, Decision Making, Arithmetic, Syllogisms … The exact form of your question will depend on on the length of your project, the type of research, the topic, and the research problem. By identifying your competitor’s positioning strategy, … Who else is sharing what your competitors are publishing? There are three major themes for gathering competitor analysis data. What content of theirs is highly shared and linked to? Considering all these and many other customer-related aspects, companies assess as to what is successful for their business. 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. 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. In the knowledge-based economy, economic and technological intelligence is a vital component of competitive research and innovation strategies. Are there five white papers and just one ebook? As your product develops and evolves, competitive research can answer questions about design directions. Do they regularly discount their products or services? Competitive analysis survey is the simplest way to gather competitor data. Do they offer regular discounts or promotions and were these a factor in their decision? Is their content free and available to anyone or do their readers need to opt-in? Using these six questions can help hotel leaders determine whether given resources or capabilities have the potential to deliver a sustainable competitive advantage. Next, determine the frequency of these content assets. ), Content virality (How many shares, repins, and retweets do their posts get?). 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. Related Topics. To gain valuable competitor insights, you can use a tool like SEMrush. First, visit the following sites to see if your competition has an account on these platforms (Facebook, Twitter, Instagram, Snapchat, LinkedIn, YouTube, Pinterest, etc. Semrush Competitive Analysis and Keyword Research Test Answers. 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. An effective way to measure or identify differentiators or competitive advantage is to ask Customer Satisfaction questions. Quantitative aptitude is an important part of the aptitude sections. How does the company differentiate itself from its competitors? • Before you redesign. Step 5: Do some hands-on research. How in-depth does their content go? Comprehensive and up-to-date question bank of mutiple choice objective practice questions and answers on Animal Husbandry for Competitive Exams. It’s worth showing your respondents a selection of marketing materials from different competitors to understand what’s working well for them. To become an excellent performance in competitive exams, every student wants to prepare important aptitude questions and answers. Add a systematic method for gathering data, and you’ve got a recipe for competitor analysis success. Find 34 questions and answers about working at COMPETITIVE EDGE RESEARCH. 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. quiz which has been attempted 5809 times by avid quiz takers. Can we determine how environment affects competition in the banking industry? And this section will be very scoring as the chances of getting wrong is very low. These simple market research and competitive research questions, will direct you as you brainstorm and plan your information product. It focuses the study, determines the methodology, and… a. iii. 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. For ending their relationship with the company? Such an approach will enable you to spot gaps in your own marketing strategy and fix them. Which social media platforms is your target audience using and the most active on? Is there a visible byline or bio attached to their articles? Caitlin Stewart Marketing Associate MarketResearch.com Additionally, competitor research usually involves spying on the competition and making assumptions about their approaches to certain problems or solutions. 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. CHAPTER ONE. ... 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 … Information regarding demographics such as age, gender, income etc. The first step in writing a proper competitive analysis is identifying your competitors. Professor of Innovation and Dynamic Management and a full professor in strategy at Cornell University. Thanks for reading! Besides—and beyond—everything else, competitive advantage research answers the question of why you are different from everyone else. What is your competitor doing really well with? Then, take a look at the quantity of these items. Download Porter’s Five Forces template. During competitive research might show you how to mirror your competition's approach, but it won't help you surpass their results. SWOT analysis. Management provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. ), Is the content structured for readability? COMPETITIVE STRATEGIES AND CHANGES IN BANKING INDUSTRY IN NIGERIA. 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. MBA: Operational research 50 Questions | 1264 Attempts O R : Business mangement Contributed By: T Singh. Also, this part often contains the company’s mission statement, tagline or slogan, and main value proposition. Plus, these questions should make it easier for you to create your own custom competitive analysis template that will serve your specific needs. In the simplest of terms, competitive advantage comes down to why certain customers like your competitors better than you. When I talk about the concept of competitive research as a core practice, I sometimes encounter some pushback from business owners. 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. The lifeblood of any business is its products and services, which makes this a solid place to start collecting data. 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). ... Research Programmes; Department . It mostly reads as a list of tips and suggestions. As a theoretical basis, I want to use the Dynamic Capabilities theory. This test is designed for SEO specialists who use SEMrush to carry out competitive analysis and conduct keyword research. What is a Competitor Analysis? In what areas would you consider this competitor as a threat? Semrush Competitive Analysis and Keyword Research Test Answers. 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. Compare marketing positioning. i. Do you see customers “doing it themselves” when you can do it better? It’s an analysis that helps you answer competitive research questions like: 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. Sales. 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. Multiple contributors?). This is the Education Questions & Answers section on & Research Methodology& with explanation for various interview, competitive examination and entrance test. Conducting competitive research is a crucial activity for businesses of all types. (Are they using bullet points, bold headings, and numbered lists?). It is an analysis of your competitors and comparison of how their strategies relate to your own. (Products, content marketing, social. Do they have … We have an internal resume, so I would look at that too. What is the weakest area for your competitor? 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. 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