Market Research Competitive Intelligence & Market Analysis

Question 1

What is the purpose of a SWOT analysis in market research?

Accepted Answer

To assess a company's Strengths, Weaknesses, Opportunities, and Threats relative to its competitive environment

Answer

To analyze Sales, Wages, Operations, and Training performance metrics

Answer

To evaluate survey responses using the SWOT analytical framework

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To determine sample size using statistical weighting variables

Question 2

What is 'Porter's Five Forces' analysis used for in competitive market research?

Accepted Answer

Assessing the competitive intensity and attractiveness of an industry using five structural forces

Answer

Identifying the five key forces driving individual consumer purchasing behavior

Answer

Analyzing five key performance metrics used for competitive benchmarking

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Evaluating a company's five core competitive competencies

Question 3

What is 'win/loss analysis' in competitive intelligence research?

Accepted Answer

Researching why prospects chose your company or a competitor when making a purchase decision

Answer

Analyzing a company's financial wins and losses across fiscal quarters

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Tracking wins and losses in competitive pricing and contract negotiations

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Analyzing quarterly market share gains and losses against key competitors

Question 4

What is 'share of voice' (SOV) measured in competitive market research?

Accepted Answer

A brand's advertising or media presence as a proportion of the total category spending

Answer

The percentage of total industry revenue that a brand captures

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The percentage of consumers who speak positively about a brand publicly

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A brand's share of total customer service contacts in the market

Question 5

What does 'mystery shopping' research involve?

Accepted Answer

Trained researchers posing as customers to evaluate service quality and brand experience

Answer

Researching unknown or hidden consumer market segments

Answer

Shopping for the best market research methodologies and vendors

Answer

Surveying customers about mysterious or confusing product features

Question 6

What is 'benchmarking' in competitive market research?

Accepted Answer

Comparing a company's performance metrics against industry leaders or key competitors

Answer

Setting a benchmark price point for newly launched products

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Using a standardized benchmark survey instrument across all client studies

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Measuring consumer satisfaction scores against a predefined benchmark threshold