How to Conduct Competitor Analysis

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What are competitors?

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1. Which is NOT important when analyzing competitors?

2. Why is it beneficial to buy your competitor's product?

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About This Quiz & Worksheet

How is a competitor analysis conducted? Assess your knowledge of the strategies it involves and the purpose of this type of analysis by using the worksheet/quiz combo.

Quiz & Worksheet Goals

You can gauge your knowledge of:

  • Things important when analyzing competitors
  • What competitors are
  • The meaning of an 'indirect competitor'
  • What focus groups determine
  • Benefits of buying a competitor's product

Skills Practiced

  • Defining key concepts - ensure that you can accurately define main topics, such as competitor and indirect competitor
  • Interpreting information - verify that you can read information about why it is advantageous to buy your competitor's product and interpret it correctly
  • Information recall - access what you've learned about how focus groups can be useful

Additional Learning

Further your understanding of these topics by using the lesson named How to Conduct Competitor Analysis. Using this lesson, you can:

  • Identify the different types of competitors
  • Decide why competitors are important for companies
  • Review the steps involved in conducting a competitor analysis
Final Exam
Creating a Framework for Competitive Analysis
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