Chapter 15 Quiz

The data you collect about your competitors is called_____.

• competitive advantage

• competitive intelligence

• differentiators

• competitive matrix

A _________ is something that gives your business an advantage over your competition.

• competitive intelligence

• differentiators

• competitive advantage

• competitive matrix

Your competitive advantage could consist of one or more _________.

• differentiators

• competitive intelligence

• competitive advantage

• competitive matrix

Differentiators are unique characteristics that _______ your business from other businesses.

• improvise

• advertise

• enhance

• distinguish

A ___________ is a grid used to compare characteristics of your business with your direct competitors.

• competitive matrix

• differentiators

• competitive intelligence

• competitive advantage

When analyzing the competitive matrix, the first step is to:

• Use the matrix to help pinpoint your potential differentiators that will act as your competitive advantages.

• 1. Plug selected data into the matrix.​

• 1. Pick the main direct competitors by reviewing the information you’ve been collecting.​

• None of the above

When analyzing the competitive matrix, the second step is to:

• Plug selected data into the matrix.

• Use the matrix to help pinpoint your potential differentiators that will act as your competitive advantages. 

• Pick the main direct competitors by reviewing the information you’ve been collecting.

• None of the above.

When analyzing the competitive matrix, the third step is to:

• Plug selected data into the matrix.

• 1. Pick the main direct competitors by reviewing the information you’ve been collecting.​

• Use the matrix to help pinpoint your potential differentiators that will act as your competitive advantages. 

• None of the above.

• Market research is an ongoing process.​

• True

• False

You should keep an eye out for any new direct competitors that begin selling to your target market.​

• True

• False