Competitor Analysis and SWOT Analysis

Question 1

begins with identifying present as well as potential competitors

Answer 1

Competitor analysis

Question 2

ToF. Analyzing organization’s competitors helps an organization to discover its weaknesses, to identify opportunities for and threats to the organization from the industrial environment.

Answer 2

True

Question 3

____ is the process of identifying businesses in your market that offer similar products or services to yours and evaluating them based on a set of predetermined business criteria.

Answer 3

competitor analysis

Question 4

business consultant and bestselling author of Unbreak the System.

Answer 4

Josh Rovner

Question 5

These are businesses that offer products identical or similar to those of the firm completing the analysis

Answer 5

Direct competitors

Question 6

These competitors offer close substitutes to the product the firm completing the analysis sells.

Answer 6

Indirect competitors

Question 7

These are companies that are not yet direct or indirect competitors but could move into one of these roles at any time.

Answer 7

Future competitors

Question 8

Find all the features that each direct competitor’s product or service has. Keep this in a competitor insight spreadsheet to visualize how companies stack up against one another.

Answer 8

Feature matrix:

Question 9

This helps to identify who your main competitors in your market are. Don’t exclude larger competitors completely, as they have much to teach about how to
succeed in your industry.

Answer 9

Market share percentage:

Question 10

Pinpoint how much your competitors charge and where they fall on the quantity vs. quality spectrum.

Answer 10

Pricing:

Question 11

It is what type of marketing strategy does each competitor employ

Answer 11

Marketing:

Question 12

What makes your competitors unique, and what do they advertise as their best qualities

Answer 12

Differentiators:

Question 13

Identify what your competitors are doing well and what works for them.

Answer 13

Strengths:

Question 14

Identify what each competitor could be doing better.

Answer 14

Weaknesses:

Question 15

: Look at where your competitors are located and the regions they service

Answer 15

Geography

Question 16

This is Rovner’s seven-step process for conducting a competitor analysis:

Answer 16

1. Identify the products or services you want to evaluate.
2. Identify every direct and indirect competitor for those products or services.
3. Research all competitors in person and online
4. Document your research in a written analysis.
5. Identify areas to improve your own competitiveness.
6. Make the improvements you deemed appropriate or necessary.
7. Measure your sales and profit based on the changes you made to determine whether they were successful.

Question 17

is a framework used to evaluate a company’s competitive position and to develop strategic planning.

Answer 17

SWOT analysis

Question 18

__ describe what an organization excels at and what separates it from the competition

Answer 18

Strengths

Question 19

___ stop an organization from performing at its optimum level.

Answer 19

Weaknesses

Question 20

___ refer to favorable external factors that could give an organization a competitive advantage.

Answer 20

Opportunities

Question 21

___ refer to factors that have the potential to harm an organization.

Answer 21

Threats

Question 22

What occurs within the company serves as a great source of information for the strengths and weaknesses categories of the SWOT analysis

Answer 22

internal factor

Question 23

What happens outside of the company is equally as important to the success of a company as internal factors.

Answer 23

external factor