Question 1

When assessing the strengths and weaknesses of a competitor,success factors are typically weighted by ________.&#10;A) importance&#10;B) distribution&#10;C) profit rating&#10;D) expenditure

Accepted Answer

Success factors are typically weighted by importance when assessing the strengths and weaknesses of a competitor. This allows for a more accurate evaluation and comparison of the competitor's overall performance and potential impact on the market. While factors such as distribution, profit rating, and expenditure may also be considered, they are typically secondary to the importance of each factor in relation to the competitor's overall success.

Question 2

Discussing a competitor's strategies and marketing tactics with shared customers should be avoided during a competitor analysis because of the potential conflict of interest.

Accepted Answer

False

Question 3

Conducting a competitor analysis most likely enables firms to ________.&#10;A) construct appropriate strategies&#10;B) develop tactical budgets&#10;C) assess customer needs&#10;D) determine new trends

Accepted Answer

Conducting a competitor analysis helps firms to analyze the strengths and weaknesses of their competitors, identify their market position and customer base, and determine the key success factors in the industry. These inputs are very useful in constructing appropriate strategies to gain a competitive advantage. Competitor analysis may indirectly help in assessing customer needs and determining new trends, but that is not the primary objective. Tactical budgets are usually not directly affected by competitor analysis.

Question 4

Which of the following questions would be LEAST relevant to a marketer creating a strategy profile of a competitor?&#10;A) Does the competitor utilize highly efficient buy centers?&#10;B) Does the competitor use a differentiated marketing approach?&#10;C) Does the competitor use a growth strategy of market penetration?&#10;D) Does the competitor have sufficient cash flow for a growth strategy?

Accepted Answer

The question about whether the competitor utilizes highly efficient buy centers is least relevant for creating a strategy profile, as it focuses on operational efficiency rather than strategic marketing approaches or growth strategies.

Question 5

As a marketer,how would you benefit from assessing the strengths and weaknesses of a competitor What steps should you follow when conducting such an analysis?

Accepted Answer

The answer of As a marketer,how would you benefit from...

Question 6

By analyzing a competitor's ________,a marketer would most likely be able to assess the risk and cash flow of the competitor.&#10;A) SBU portfolio&#10;B) growth strategy&#10;C) marketing approach&#10;D) customer value chain

Accepted Answer

Analyzing a competitor's Strategic Business Unit (SBU) portfolio allows a marketer to understand the diversity and balance of the competitor's businesses, which in turn provides insights into the risk and cash flow associated with each unit. This analysis can reveal how well the competitor is positioned for growth and stability.

Question 7

All of the following would most likely provide useful information when assessing the strengths and weaknesses of a competitor EXCEPT ________.&#10;A) sales force meetings&#10;B) customer surveys&#10;C) press releases&#10;D) analyst reports

Accepted Answer

Press releases are typically controlled and crafted by the company itself to present a positive image, and may not provide objective or comprehensive insights into a competitor's strengths and weaknesses.

Question 8

Executive presentations,annual reports,and vision statements are the best resources for a marketer assessing the strengths and weaknesses of a competitor.

Accepted Answer

These documents often present an idealized view of a company, focusing on strengths and future goals rather than providing a comprehensive overview of weaknesses or challenges. For a balanced assessment, marketers should also consider independent analyses, customer reviews, and market performance data.

Question 9

When analyzing the strengths and weaknesses of a competitor,a marketer should first ________.&#10;A) identify similarities with the competitor's product&#10;B) determine the success factors in a market&#10;C) predict the competitor's next actions&#10;D) review fluctuations in the market

Accepted Answer

Before analyzing the strengths and weaknesses of a competitor, a marketer should first determine the success factors in a market. This will help to identify the areas where the competitor is performing well and where they may be falling short. It is important to have a clear understanding of the market and the factors that drive success in order to effectively analyze a competitor's strengths and weaknesses. Identifying similarities with the competitor's product, predicting their next actions, and reviewing fluctuations in the market can all be important steps in analyzing a competitor, but they should come after understanding the success factors in the market.

Question 10

When conducting a competitor analysis,a marketer should first investigate the competitor's ________.&#10;A) marketing mix&#10;B) product offerings&#10;C) long-term objectives&#10;D) customer loyalty ratings

Accepted Answer

The answer of When conducting a competitor analysis,a marketer should...

Question 11

Which of the following is NOT an element of a comprehensive competitor analysis?&#10;A) strategies&#10;B) weaknesses&#10;C) buy centers&#10;D) marketing tactics

Accepted Answer

The answer of Which of the following is NOT an...

Question 12

Which area of a competitor analysis involves making assessments rather than predictions about the competition?&#10;A) strengths and weaknesses&#10;B) long-term objectives&#10;C) marketing tactics&#10;D) strategies

Accepted Answer

The answer of Which area of a competitor analysis involves...

Question 13

Sales people are useful resources when assessing the strengths and weaknesses of a competitor due to their regular interaction with customers.

Accepted Answer

The answer of Sales people are useful resources when assessing...

Deck 5: Note : Competitor Analysis - Competitive Intelligence