Market Research Competitive Intelligence & Market Analysis 2

Question 1

What is 'market sizing' in competitive analysis research?

Accepted Answer

Estimating the total revenue or sales volume available in a specific market

Answer

Determining the physical size and layout of market locations

Answer

Sizing the research budget relative to the total market opportunity

Answer

Measuring the geographic boundaries and reach of a target market

Question 2

What do TAM, SAM, and SOM represent in market analysis?

Accepted Answer

TAM is total market demand, SAM is the segment you can serve, SOM is the share you can realistically capture

Answer

Three different quantitative market research methodologies

Answer

Three levels of consumer needs: Total, Specific, and Optional

Answer

Three forecasting time horizons: This year, All years, and Some years

Question 3

What is 'perceptual positioning' research designed to reveal?

Accepted Answer

How consumers mentally position a brand relative to competitors on key attributes

Answer

How consumers physically perceive and process advertising visual content

Answer

How a brand positions itself in its own internal marketing materials

Answer

The physical position and placement of products on retail shelves

Question 4

What is 'competitive gap analysis' used for in market research?

Accepted Answer

Identifying differences between current performance and competitor or best-practice benchmarks

Answer

Measuring gaps in available competitive intelligence data sources

Answer

Analyzing geographic distribution gaps relative to competitive coverage

Answer

Measuring the time lag between your product launches and those of competitors

Question 5

What is 'brand health tracking' research?

Accepted Answer

Ongoing measurement of key brand metrics such as awareness, consideration, and preference over time

Answer

Researching the physical condition of brand visual assets like logos

Answer

Tracking the financial health and market valuation of competing brands

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Monitoring employee satisfaction and engagement with the corporate brand

Question 6

What distinguishes 'primary competitive intelligence' from 'secondary competitive intelligence'?

Accepted Answer

Primary intelligence is gathered firsthand; secondary intelligence is gathered from published sources

Answer

Primary intelligence is more important strategically; secondary intelligence is less critical

Answer

Primary focuses on direct competitors; secondary focuses on indirect competitors

Answer

Primary uses quantitative methods; secondary exclusively uses qualitative methods