Sample interview questions: How do you assess the potential impact of technological advancements on market demand?
Sample answer:
Assess the Potential Impact of Technological Advancements on Market Demand
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Monitor Industry Trends: Track the latest technological developments and advancements within the industry and related sectors. Analyze patent filings, research papers, and industry publications to identify emerging trends that could disrupt the market.
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Analyze Market Dynamics: Assess the impact of technological advancements on factors such as customer preferences, market segmentation, competitive landscape, and distribution channels. Consider how new technologies may alter consumer behavior, create new market opportunities, or intensify competition.
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Conduct Market Research: Conduct surveys, interviews, and focus groups to gather insights from customers and industry experts. Ask targeted questions about their perceptions towards technological advancements and their potential impact on product/service preferences, purchase decisions, and consumption patterns.
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Simulate Market Scenarios: Develop simulation models to test different scenarios of technological impact. Vary the intensity, timing, and scope of technology adoption to predict potential changes in market demand, pricing dynamics, and market share distribution.
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Monitor Key Perfor… Read full answer
Source: https://hireabo.com/job/1_4_26/Market%20Research%20Analyst