Marketing Competitive Analysis Quiz

What is the first level of identifying competitors?

• Satisfy the same customer needs

• Direct competitors

• Indirect competitors

• Potential competitors

Which approach views all competition in the context of the industry?

• Customer-based approach

• Product differentiation approach

• Market segmentation approach

• Strategic group approach

What type of industry structure is characterized by a single firm controlling output and price?

• Oligopoly

• Monopolistic competition

• Monopoly

• Pure competition

Which of the following is NOT a component of Michael Porter’s model of competitive forces?

• Threat of substitute products

• Rivalry between existing competitors

• Threat of new entrants

• Threat of market saturation

What is a key success factor (KSF)?

• A characteristic that has no impact on performance

• A condition that significantly impacts performance

• A marketing strategy

• A financial metric

What is the primary objective of a key competitor analysis?

• To assess product quality

• To identify market trends

• To predict key competitors’ potential actions

• To evaluate customer satisfaction

Which type of competitor is characterized by firms that offer similar but not identical products?

• Potential competitors

• Monopolistic competitors

• Indirect competitors

• Direct competitors

What is a characteristic of a monopoly?

• Low entry barriers

• Products are highly differentiated

• One firm controls the market

• Many firms compete for the same market

Which factor increases the bargaining power of buyers?

• High switching costs

• Low price sensitivity

• Product differentiation

• Concentration of buyers

What does the term 'mobility barriers' refer to?

• Barriers to supplier integration

• Barriers to customer switching

• Barriers preventing movement between strategic groups

• Barriers preventing new entrants