Comprehensive and up-to-date question bank of mutiple choice objective practice questions and answers on Animal Husbandry for Competitive Exams. Are there opportunities in the market that your competitor has identified. 10 Tips on How to Research Your Competition Keeping tabs on your competition is a great strategy for growing your business. This is the Education Questions & Answers section on & Research Methodology& with explanation for various interview, competitive examination and entrance test. How does the company differentiate itself from its competitors? Combine them to find a competitive advantage for your small business. Plus, these questions should make it easier for you to create your own custom competitive analysis template that will serve your specific needs. I would also ask the employee why she/he were interested, thought she/he were competitive and what she/he did to prepare. MCQs on Research Aptitude (UGC NET Paper 1) 1. Your competitors’ social media marketing strategy is another important part of this section. Competitive research (or competitive intelligence) is a field of strategic research that specializes in the collection and analysis of information about rival firms. Where does your competitor have the advantage over your brand? Competitive analysis helps you make your business unique. How often does a new ebook or case study come out? Conducting competitive research is a crucial activity for businesses of all types. It mostly reads as a list of tips and suggestions. Why have customers chosen to leave them or not to buy from them? SWOT analysis. What you can do, however, is analyze your competitors and learn from their mistakes and examples of good practice. How in-depth does their content go? Download Porter’s Five Forces template. Join our team on Kiva. What are the characteristics and needs of their ideal customers? Are they using static visual content such as infographics and cartoons? 2. Also, this part often contains the company’s mission statement, tagline or slogan, and main value proposition. Besides—and beyond—everything else, competitive advantage research answers the question of why you are different from everyone else. How does the online experience differ from bricks and mortar stores? Competitive Research. For ending their relationship with the company? 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. ... 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. This way you can learn what’s working for your competitors and try to outperform that. It’s worth showing your respondents a selection of marketing materials from different competitors to understand what’s working well for them. Management provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. 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. Are these seen as high-end or low-cost products? How does your content compare? There's no doubt that any research project these days should begin with … Aeronautical Engineering; Aerospace Engineering; Bio Medical Engineering; Civil Engineering; Computer Science And Engineering; … Do they share curated content from other sources? These simple market research and competitive research questions, will direct you as you brainstorm and plan your information product. You can also include any web pages that reference your competition. 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. A research question is the fundamental core of a research project, study, or review of literature. Information on their product range, prices and quality should be freely available, as should details of any special offers or loyalty programs they offer. CHAPTER ONE. And this section will be very scoring as the chances of getting wrong is very low. How to begin the competitor research process Do you see a competitor getting more of your ideal customer than you are? Do they publish buying guides and data sheets? For instance, prevailing norms tell us that job candidates are expected to answer questions during interviews. Basic General Science is one of the Important section in many other competitive exams. Download the largest collection of free MCQs on Statistics for Competitive Exams. 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. Are they using different pricing strategies for online purchases versus brick and mortar? 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 … Are they more focused on driving people to landing pages, resulting in new leads? What are their revenues each year? Sales data is harder to come by than product data, but it’s possible to glean valuable insights on your competitors’ sales strategy. Using these six questions can help hotel leaders determine whether given resources or capabilities have the potential to deliver a sustainable competitive advantage. Which social media platforms is your target audience using and the most active on? Can … Market research helps you find customers for your business. COMPETITIVE STRATEGIES AND CHANGES IN BANKING INDUSTRY IN NIGERIA. 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. 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. 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. Today I am providing General Science Questions for Competitive Exams. By identifying your competitor’s positioning strategy, … a. 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. There are several free (and paid) tools that will give you a comprehensive evaluation of your competitor’s search engine optimization. You can also check the annual reports from public companies online. Although the number of potential research questions that can be asked is almost limitless, these are two of the most common conceptual tools: Caitlin Stewart Marketing Associate MarketResearch.com These questions cover such areas as:General Strategy, Competition, Product, Pricing, Customers, Sales, etc. It focuses the study, determines the methodology, and… Identify your competitor’s market positioning. Do they offer regular discounts or promotions and were these a factor in their decision? What online and offline advertising campaigns are they running? Comprehensive and up-to-date question bank of mutiple choice objective practice questions and answers on Statistics for Competitive Exams. Considering all these and many other customer-related aspects, companies assess as to what is successful for their business. Where does your brand have the advantage over your competitor? Find 34 questions and answers about working at COMPETITIVE EDGE RESEARCH. can provide personal insights to a survey creator that might not be attained using other question types. ), Is the content structured for readability? This research work is an attempt to answer the following research questions. What does the sales process look like? The first step in writing a proper competitive analysis is identifying your competitors. 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. The lifeblood of any business is its products and services, which makes this a solid place to start collecting data. To answer these questions, retailers need to do some detective work and gather competitive intelligence. Such an approach will enable you to spot gaps in your own marketing strategy and fix them. ), Content engagement (Are users leaving comments or sharing their posts? iii. One person? In this example, the criteria that users use to choose their mobile search engine is hugely different from … It’s important to spend some time assessing and refining your question before you get started. These strategies are devised, keeping in mind customer behaviour, customer pattern, customer preferences, customer trends, etc. 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. The success of any process in the age of technology is about the amount of work that can be automated. As a theoretical basis, I want to use the Dynamic Capabilities theory. Profiling your competitors with advanced research analytics is the one of the best methods to use market research to gain a competitive advantage. In what areas would you consider this competitor as a threat? What channels did they interact through? (Is it introductory level that just scratches the surface or more advanced topics with high-level ideas? Semrush Competitive Analysis and Keyword Research Test Answers. Are they publishing something new each week or once a month? (Are they using bullet points, bold headings, and numbered lists?). Determine who your competitors are. Competitive analysis survey is the simplest way to gather competitor data. How involved is a salesperson in the process? 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. 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. 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. 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. What channels are they selling through? 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. 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. What content of theirs is highly shared and linked to? It’s an analysis that helps you answer competitive research questions like: To become an excellent performance in competitive exams, every student wants to prepare important aptitude questions and answers. We have an internal resume, so I would look at that too. In the knowledge-based economy, economic and technological intelligence is a vital component of competitive research and innovation strategies. The website is usually the center point of your competitors’ marketing operation. 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. A SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis can show you what your competitors are doing right, and what could do with some improvement. Professor of Innovation and Dynamic Management and a full professor in strategy at Cornell University. 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. 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. Download the largest collection of free MCQs on Animal Husbandry for Competitive Exams. This test is designed for SEO specialists who use SEMrush to carry out competitive analysis and conduct keyword research. Do you see customers “doing it themselves” when you can do it better? 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. List of competitive exams in India after Graduation 1. Required fields are marked *. In the simplest of terms, competitive advantage comes down to why certain customers like your competitors better than you. A competitive analysis is a vital part of your company’s marketing plan. This is the Education Questions & Answers section on & Research Methodology& with explanation for various interview, competitive examination and entrance test. Around 20 questions will be asked in ALP Exam and 25 questions in group-D exam. Can you find my competitor’s customers? ... Research Questions. Image Transcriptionclose. According to an NFIB (National Federation of Independent Business) poll, 53% of small-business owners describe their competitive climate as highly competitive. 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. Featured Content. Solved examples with detailed answer description, explanation are given and it would be easy to understand Your goal is to create a richer picture of the customer’s experience with your competitor and identify the key drivers behind consumer behavior. Do they offer regular discounts or promotions and were these a factor in their decision? This section describes the products and services offered. It’s like having your own informant in your competitors’ marketing sector, providing you with all the necessary data straight from their office. But first, let’s go one step backward. Yes, with only one caveat – they actually have customers!!! 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. Who is referring traffic to your competitor’s site? Information regarding demographics such as age, gender, income etc. in person, via phone, online. Next, determine the frequency of these content assets. My main research question is how banks use DT do defend existing and develop new competitive advantages. It will allow you a behind-the-scenes look at some of your best-performing competitors. • Before you redesign. in person, via phone, online Do they use franchises or partner reselling programs? MarketResearch.com offers syndicated research and competitive intelligence on 26 different competitive industries. 29 Market Research Questions to Guide Your Marketing Strategy - … ), Content virality (How many shares, repins, and retweets do their posts get?). 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 … – just a small sample of the areas that our platform is capable of pulsing. Cathy A. Enz is the Lewis G. Schaeneman Jr. 2. Management and Organisations 36 Questions | 3508 Attempts Human Resources Management, Management, Leadership, Business, Motivation Contributed By: Ildiko Volcz. Can we determine the strategies that affect competition in the banking industry? Collecting competitor data takes some effort, so it’s essential to understand why you are doing it and what you can achieve. Step 5: Do some hands-on research. During competitive research might show you how to mirror your competition's approach, but it won't help you surpass their results. Solved examples with detailed answer description, explanation are given and it would be easy to understand Or are they posting visual content to promote engagement and brand awareness? 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. Add a systematic method for gathering data, and you’ve got a recipe for competitor analysis success. Is there a visible byline or bio attached to their articles? 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