When the interviewer asks what you know about the competition, he or she is sizing up how well you understand the company with whom you are seeking employment and the way it fits into the industry as a whole. This question can also reveal to the interviewer how much knowledge an applicant may have about the products and services offered by the company.
The interviewer really wants to see how well you know the company, so by finding out what you know about the competition, it becomes clear how invested you are in making the company you work for a success.
Points to Emphasize
When answering this question, you want to emphasize your understanding of the marketplace and various innovations on the scene from the company and its competitors. Emphasize your ability to help the company surpass its competition.
Mistakes You Should Avoid
While a thorough understanding of the competition is important, it is a good idea to always paint the company you are interviewing with in a positive light.
To this question, you want to give a sense that you are aware of the trajectory of the company within the context of the industry. Don’t make up information, and try to couch your answer in a way that showcases how you can help make the company and industry leader.
An appropriate answer to a question about the competition could look something like this:
In a recent article, I read that the competing company is testing a new product similar to one your company has created. It seems that the existing market share for this product is securely in your corporation, however, it will be key to your company’s success to invest in more aggressive marketing strategies to remind the consumer of the superior nature of your company’s product. My experience with this type of product will help me ensure your company continues to hold the place of industry leader in this sector.
Your answer can express your thorough research and your confidence in the company as a whole. The manager wants to see that you are aware of the industry and how the company needs to proceed to guarantee success.