Page 171 - How To Answer Interview Questions (II)

Job Interview Question 94

Who are our competitors?

An interviewer who asks this wants to see:

if you have done your homework and researched their company before the interview
if you are really as familiar with this arena/product/service as you should be
what else you mention on this topic that tells them more about what you can offer them in
terms of organizational advantage

This is a big question in any sales job, but it can easily come up in other
fields. Not only should you know the competitors’ names, you should know a few of the most
important facts about them in relation to this company and the market.

You can get this information through your own research using Google and LinkedIn, as well as by
talking to others in your personal network or LinkedIn groups.The more specific you can be, the
better.

If you have worked for their competitors, be careful about disclosing anything that would violate
a confidentiality or non-compete agreement.

What would be useful to mention along with the names of the competitors?

Differences and similarities
Recent sales comparisons
Market share/ tactics
A specific struggle in a certain market or with a certain product
Reviews, news stories
This company’s place in popular rankings or lists
This company’s efforts to gain an advantage over their competitors
Why this company is (in your opinion) better than the others