Internal Assessment & Competitive analysis

What is a competitive set?

• A group of direct competitors based on similar price and services.

• A set of competitors in a different industry.

• A list of potential business partners.

• A market analysis tool.

Which of the following is NOT considered primary research in competitive intelligence?

• Observing a competitor's parking lot.

• Analyzing key financial ratios from annual reports.

• Employing mystery shoppers.

• Performing nightly call rounds to assess availability.

What does the acronym SWOT stand for?

• Strengths, Weaknesses, Opportunities, Trends.

• Strengths, Weaknesses, Opportunities, Threats.

• Strategies, Weaknesses, Opportunities, Tactics.

• Strategies, Weaknesses, Objectives, Tactics.

Which of the following is considered a secondary competitor?

• A direct competitor in the same price range.

• A competitor offering similar services in a different location.

• A company not in the competitive set but still visible to customers.

• A competitor with a similar marketing strategy.

Which is NOT an example of a core competency?

• Superior customer service.

• Excellent location.

• Low financial resources.

• Brand reputation.

What is a distinctive competency?

• A skill common to all competitors.

• An operational element performed uniquely well by an organization.

• A minor advantage in a specific area.

• A disadvantage compared to competitors.

In a SWOT analysis, what do 'Threats' represent?

• Internal challenges the organization must overcome.

• External factors that could harm the organization.

• The organization's weaknesses.

• Potential areas for growth.

Which of the following is a Strengths and Opportunities (SO) strategy?

• Lowering prices to attract cost-sensitive customers.

• Pursuing a new demand generator due to location proximity.

• Dismissing poorly performing personnel.

• Reducing prices during poor weather seasons.

Which component is NOT typically part of a competitive intelligence process?

• Mystery shopping.

• Financial ratio analysis.

• Random sampling of customer feedback.

• Observing competitor facilities.

A SWOT analysis should lead to the development of what?

• Marketing budget.

• Business strategies.

• Competitor lists.

• Financial audits.