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. This section describes the products and services offered. Semrush Competitive Analysis and Keyword Research Test Answers. Management and Organisations 36 Questions | 3508 Attempts Human Resources Management, Management, Leadership, Business, Motivation Contributed By: Ildiko Volcz. i. Required fields are marked *. Although the number of potential research questions that can be asked is almost limitless, these are two of … My main research question is how banks use DT do defend existing and develop new competitive advantages. List of competitive exams in India after Graduation 1. A research question is the fundamental core of a research project, study, or review of literature. Image Transcriptionclose. What does the sales process look like? Big Idea Basic Frameworks of Competitive Analysis. 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. Collecting competitor data takes some effort, so it’s essential to understand why you are doing it and what you can achieve. As a theoretical basis, I want to use the Dynamic Capabilities theory. Competitive analysis survey is the simplest way to gather competitor data. Which keywords are your competitors focusing on that you still haven’t tapped into? 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. This chart from Silicon Valley Insider is a great illustration of the types of results you can expect to get. 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. This post of General Science Questions for Competitive Exams is very important also related to General GK Questions and Answers. In the knowledge-based economy, economic and technological intelligence is a vital component of competitive research and innovation strategies. Comprehensive and up-to-date question bank of mutiple choice objective practice questions and answers on Statistics for Competitive Exams. Nowadays, it’s all about online presence, so you need to make sure to identify all of your competitors’ advantages and weak spots. What about total sales volume? Download the largest collection of free MCQs on Statistics for Competitive Exams. MCQs on Research Aptitude (UGC NET Paper 1) 1. But first, let’s go one step backward. And this section will be very scoring as the chances of getting wrong is very low. Below are 40 strategic questions to ask your employees or yourself from our platform that you can use that evaluate strategy comprehensively. You can also assess how well they are performing in terms of achieving their business goals. During competitive research might show you how to mirror your competition's approach, but it won't help you surpass their results. There's no doubt that any research project these days should begin with … (Products, content marketing, social. Aeronautical Engineering; Aerospace Engineering; Bio Medical Engineering; Civil Engineering; Computer Science And Engineering; … 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. 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. When I talk about the concept of competitive research as a core practice, I sometimes encounter some pushback from business owners. Sales. Conducting competitive research is a crucial activity for businesses of all types. CHAPTER ONE. • Before you redesign. In such a climate, a competitive analysis is a powerful tool that can give you leverage over other businesses in your industry. 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. Cathy A. Enz is the Lewis G. Schaeneman Jr. Here are 7 demographic survey questions that you would want to include in your next survey! For instance, prevailing norms tell us that job candidates are expected to answer questions during interviews. Do you see customers spending more on your type of product or service with someone else? Social media may also be a powerful conduit for their brand as well as any print, TV, or online video advertising. What is the weakest area for your competitor? Before you start, review the information below: You will be asked 10 questions. There are several free (and paid) tools that will give you a comprehensive evaluation of your competitor’s search engine optimization. Are they more focused on driving people to landing pages, resulting in new leads? What key benefits did they understand from it? Today I am providing General Science Questions for Competitive Exams. 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. Quantitative aptitude is an important part of the aptitude sections. Are they working mainly volume sales or one-o purchases? E.g. COMPETITIVE STRATEGIES AND CHANGES IN BANKING INDUSTRY IN NIGERIA. 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. It’s important to spend some time assessing and refining your question before you get started. This test is designed for SEO specialists who use SEMrush to carry out competitive analysis and conduct keyword research. What content of theirs is highly shared and linked to? ... Research Programmes; Department . Competition research and assessment doesn't need to be complicated. Operations Research or Qualitative Approach MCQ is important for exams like MAT, CAT, CA, CS, CMA, CPA, CFA, UPSC, Banking and other Management department … 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’. Along with the research you’re doing through software and tools, it’s a good idea to get hands-on with your competitive research. This section contains the overview and profile of your company as well as your competitors. Who is referring traffic to your competitor’s site? Basic General Science is one of the Important section in many other competitive exams. Who else is sharing what your competitors are publishing? 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. SWOT analysis. All of your competitors can be divided into two basic categories – direct and indirect. What channels did they interact through? That’s why we present you with 50+ sample questions that will enable you to better analyze your competition. Go beyond a google search. in person, via phone, online. Do they use franchises or partner reselling programs? Or are they posting visual content to promote engagement and brand awareness? MarketResearch.com offers syndicated research and competitive intelligence on 26 different competitive industries. In order to research your competitors, you need to identify them first. It mostly reads as a list of tips and suggestions. Caitlin Stewart Marketing Associate MarketResearch.com Learn about the interview process, employee benefits, company culture and more on Indeed. A Yazamo Product. The success of any process in the age of technology is about the amount of work that can be automated. How does the company differentiate itself from its competitors? 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. Multiple contributors?). Identify your competitor’s market positioning. Although the number of potential research questions that can be asked is almost limitless, these are two of the most common conceptual tools: Considering all these and many other customer-related aspects, companies assess as to what is successful for their business. Thanks for reading! In the simplest of terms, competitive advantage comes down to why certain customers like your competitors better than you. Explore the latest questions and answers in Competitive Advantage, and find Competitive Advantage experts. 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. 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. 25 Multiple Choice Questions are presented with the answers at the end of the page. Join our team on Kiva. Copyright © 2021 LeadQuizzes. What other sites are linking back to your competitor’s site, but not yours? Where does your brand have the advantage over your competitor? What are the characteristics and needs of their ideal customers? How involved is a salesperson in the process? Who is writing their content? Your email address will not be published. Read through to discover some of the best-kept secrets and tips to do competitive research the right way! In this section, you can find numerous aptitude questions with answers and explanation. – just a small sample of the areas that our platform is capable of pulsing. How do they distribute their products/services? Step 5: Do some hands-on research. A competitive analysis involves identifying your competition and evaluating their strengths and weaknesses in relation to your own business. To gain valuable competitor insights, you can use a tool like SEMrush. Competitive English sections cater to you the questions and answers on general English Aptitude with easy and logical explanations. quiz which has been attempted 5809 times by avid quiz takers. We have an internal resume, so I would look at that too. Can we determine the strategies that affect competition in the banking industry? To become an excellent performance in competitive exams, every student wants to prepare important aptitude questions and answers. Big Idea Basic Frameworks of Competitive Analysis. Is there a visible byline or bio attached to their articles? 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. There are three major themes for gathering competitor analysis data. 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 … Comprehensive and up-to-date question bank of mutiple choice objective practice questions and answers on Animal Husbandry for Competitive Exams. (Are they using bullet points, bold headings, and numbered lists?). How to begin the competitor research process Do you see a competitor getting more of your ideal customer than you are? These strategies are devised, keeping in mind customer behaviour, customer pattern, customer preferences, customer trends, etc. Are these seen as high-end or low-cost products? 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. The research question is one of the most important parts of your research project, thesis or dissertation. Are they using static visual content such as infographics and cartoons? 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). In this example, the criteria that users use to choose their mobile search engine is hugely different from … 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. .pdf version of this page This review is a collection of views and advice on composing research questions from problem statements. The lifeblood of any business is its products and services, which makes this a solid place to start collecting data. In what areas would you consider this competitor as a threat? What to Do if Another Company is Using Your Business Name. Do you see customers “doing it themselves” when you can do it better? SSC GRADUATE LEVEL TIER -I EXAM 51 Questions | 3999 Attempts Quantitative Aptitude, Decision Making, Arithmetic, Syllogisms … Profiling your competitors with advanced research analytics is the one of the best methods to use market research to gain a competitive advantage. The website is usually the center point of your competitors’ marketing operation. Management provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Where does your competitor have the advantage over your brand? What are their revenues each year? Do they have several hundred blog posts or a small handful? Such an approach will enable you to spot gaps in your own marketing strategy and fix them. ... 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 … It focuses the study, determines the methodology, and… Combine them to find a competitive advantage for your small business. ), Is the content structured for readability? These simple market research and competitive research questions, will direct you as you brainstorm and plan your information product. 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. 9008545678,9900500028. admission@acsce.edu.in. can provide personal insights to a survey creator that might not be attained using other question types. Strategic Competitive Analysis Questionnaire. Do they regularly discount their products or services? 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. Check out all of their social media profiles and websites. Market research helps you find customers for your business. You can easily get 2-3 marks by practicing the help of General Science Questions and answers for Competitive Exams. 10 Tips on How to Research Your Competition Keeping tabs on your competition is a great strategy for growing your business. (Is it introductory level that just scratches the surface or more advanced topics with high-level ideas? Ans: a. Professor of Innovation and Dynamic Management and a full professor in strategy at Cornell University. Featured Content. A competitive analysis is a vital part of your company’s marketing plan. Semrush Competitive Analysis and Keyword Research Test Answers. This way you can learn what’s working for your competitors and try to outperform that. How does the online experience differ from bricks and mortar stores? Can … Add a systematic method for gathering data, and you’ve got a recipe for competitor analysis success. For ending their relationship with the company? 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. Do they have multiple locations and how does this give them an advantage? Around 6-10 Questions are from general science in SSC CGL exam. ii. Do they share curated content from other sources? The first step in writing a proper competitive analysis is identifying your competitors. Information regarding demographics such as age, gender, income etc. Consider your competitors’ brand image on social media and compare how it relates to your company’s own voice. It is an analysis of your competitors and comparison of how their strategies relate to your own. Competitive analysis can make or break your company. 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. As technology market research experts, we get a lot of inquiries about competitive research projects. 1.1 BACKGROUND OF THE STUDY. It’s worth showing your respondents a selection of marketing materials from different competitors to understand what’s working well for them. 2. You can also include any web pages that reference your competition. Your own sales team can help here by tracking what customers have said about competitors and how they’ve made a decision between providers. The quantitative aptitude questions with answers mentioned above covers various categories and extremely helpful for competitive exams. Do they publish buying guides and data sheets? … 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. Then, take a look at the quantity of these items. Next, determine the frequency of these content assets. Solved examples with detailed answer description, explanation are given and it would be easy to understand ... I.C Competitive Exams , Railway Competitive Exam, TNPSC, University Grants Commission (UGC), Career Aptitude Test (IT Companies) and etc., Government Exams etc. Conduct … Gaining Competitive Advantage in the Gray Zone. ... Research Questions. What you can do, however, is analyze your competitors and learn from their mistakes and examples of good practice. Business Plan. Competitive Research. Also, this part often contains the company’s mission statement, tagline or slogan, and main value proposition. This research work is an attempt to answer the following research questions. To answer these questions, retailers need to do some detective work and gather competitive intelligence. iii. Besides—and beyond—everything else, competitive advantage research answers the question of why you are different from everyone else. Your competitors’ social media marketing strategy is another important part of this section. 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. An effective way to measure or identify differentiators or competitive advantage is to ask Customer Satisfaction questions. in person, via phone, online Do they use franchises or partner reselling programs? 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. As your product develops and evolves, competitive research can answer questions about design directions. By doing so, you eliminate the guesswork from your strategy and base your campaigns on data with a proven track record. Competitive analysis and bench-marking is critical if you want to increase the profitability of your product and build your brand. Research Aim: In today’s competitive corporate world, organizations are formulating and implementing customer-centric marketing strategies. Here are answers to three of our most frequently asked questions: 1. Some useful questions include: What channels did they interact through? What are their customers reasons for not buying? Are they publishing something new each week or once a month? By identifying your competitor’s positioning strategy, … I then do a little research to see what position they currently hold and have held previously, in the company and externally. Also explore over 4 similar quizzes in this category. This is the Education Questions & Answers section on & Research Methodology& with explanation for various interview, competitive examination and entrance test. Operations Research or Qualitative Approach MCQ Questions and answers with easy and logical explanations. Solved examples with detailed answer description, explanation are given and it would be easy to understand Compare marketing positioning. Would they be more or less likely to buy after seeing this. Strategy Growth Opportunities Research Operations. (In-house team? Are they using different pricing strategies for online purchases versus brick and mortar? Why have customers chosen to leave them or not to buy from them? Learn how to protect your business … 2. What online and offline advertising campaigns are they running? These questions cover such areas as:General Strategy, Competition, Product, Pricing, Customers, Sales, etc. What is your competitor doing really well with? Are these sources regular contributors? According to an NFIB (National Federation of Independent Business) poll, 53% of small-business owners describe their competitive climate as highly competitive. Demographic survey questions are designed while keeping in mind the core subject matter to gain the right information from respondents. 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. Which social media platforms is your target audience using and the most active on? You’ve done it for your business, and it’s a great place to start when evaluating your competitors. 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. Bibliography given in a research report a. helps those interested in further research and studying the problem from another angle b. shows the vast knowledge of the researcher c. makes the report authentic d. none of the above. Which comes first, theory or research? Are there five white papers and just one ebook? What is a Competitor Analysis? a. 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. 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. 29 Market Research Questions to Guide Your Marketing Strategy - … The COVID-19 pandemic has upended workforces and workplaces, creating lasting change in trends that directly impact employees’ engagement and productivity. Find 34 questions and answers about working at COMPETITIVE EDGE RESEARCH. Content assets a core practice, I sometimes encounter some pushback from business owners traffic to your company ’ working! Innovation strategies they running search engine optimization capable of pulsing online and offline advertising campaigns are they different. 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