Competitive Intelligence & Market Analysis Flashcards
6 cards from real Market Research practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Competitive Intelligence & Market Analysis flashcards as text
What is 'customer lifetime value' (CLV) and why is it used in competitive market analysis?
Answer: The net present value of all future profits generated from a customer relationship, used to prioritize acquisition and retention
CLV measures the total profit a company can expect from a customer over the entire relationship, helping prioritize which customer segments to acquire and retain based on long-term value.
What is 'price-value mapping' in competitive analysis?
Answer: Plotting brands on a matrix showing their perceived value relative to their price point
Price-value mapping plots competing brands on a price versus perceived quality matrix, revealing whether brands are perceived as overpriced, underpriced, or correctly positioned.
In market research, what is 'channel analysis'?
Answer: Evaluating the effectiveness and coverage of distribution channels reaching target consumers
Channel analysis assesses how effectively products reach consumers through various distribution channels, comparing performance, reach, and cost across channel options.
What is the purpose of 'scenario planning' in competitive market research?
Answer: Developing multiple plausible future market conditions to test strategic options and improve preparedness
Scenario planning involves developing several distinct, plausible futures for the competitive environment to stress-test strategies and identify decisions that perform well across multiple possible outcomes.
What is 'share of wallet' research measuring?
Answer: The percentage of a customer's total category spending captured by a specific brand
Share of wallet measures what proportion of total category spending a customer devotes to a specific brand, indicating loyalty depth beyond simple purchase frequency.
What is 'net sentiment analysis' in competitive market research?
Answer: The difference between positive and negative mentions of a brand in consumer-generated content
Net sentiment analysis calculates the difference between positive and negative brand mentions in social media, reviews, and other consumer-generated content to gauge overall brand perception.