Sample interview questions: How do you approach competitor analysis within the tourism industry?
Sample answer:
- Identify Direct and Indirect Competitors:
- Direct: Businesses offering similar services/experiences in the same geographic area.
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Indirect: Businesses offering different services/experiences but catering to the same customer base.
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Gather Comprehensive Data:
- Market Share: Estimate competitors’ market share through surveys, industry reports, and customer reviews.
- Pricing: Monitor competitors’ pricing strategies and any discounts or promotions they offer.
- Product and Service Offerings: Analyze their products, services, amenities, and unique selling points.
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Customer Satisfaction: Assess customer satisfaction levels through reviews, feedback, and social media comments.
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Conduct SWOT Analysis:
- Strengths: Identify what competitors excel at and why customers choose them.
- Weaknesses: Analyze areas where competitors fall short or have room for improvement.
- Opportunities: Spot gaps in the market or emerging trends that you can capitalize on.
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Threats: Assess potential threats, such as new entrants, changing consumer preferences, or economic downturns.
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Analyze Marketing and Distribution Channels:
- Marketing Strategies: Examine competitors’ marketing campaigns, advertising channels, and target audience.
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Distribution Channels: Identify how competitors reach customers, whether through online platforms, travel agents, or direct sales.
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Monitor Online Presence:
- Social Media: Analyze competitors’ social media presence, engagement levels, and content strategy.
- Website Traffic: Track their website traffic, bounce rates, and popular pages using analytics tools.
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Source: https://hireabo.com/job/11_1_13/Tourism%20Research%20Analyst