Reading Reports On Competitor Analysis is a crucial skill for TOEIC test-takers. Let’s dive into a practice test focusing on this topic to help you improve your reading comprehension and boost your TOEIC score.
Reading reports on market penetration is another essential aspect of business analysis that you may encounter in the TOEIC exam. Now, let’s begin with our practice test.
Part 1: Incomplete Sentences
In this section, you’ll find 30 incomplete sentences. Choose the best word or phrase to complete each sentence.
-
The competitor analysis report highlighted the need for __ our product offerings.
A) diversifying
B) diversification
C) diverse
D) diversely -
Our main rival’s market share has __ by 5% over the past quarter.
A) increased
B) decreased
C) stabilized
D) fluctuated -
The report suggests that we should __ our pricing strategy to remain competitive.
A) maintain
B) revise
C) abandon
D) ignore -
According to the analysis, our competitors have been investing heavily in __ to improve customer experience.
A) technology
B) technologies
C) technological
D) technologically -
The comprehensive report __ valuable insights into our competitors’ strengths and weaknesses.
A) provided
B) providing
C) provides
D) provide -
Our company needs to __ its marketing efforts to counter the aggressive campaigns of our rivals.
A) intensify
B) intensified
C) intensity
D) intensive -
The competitor’s new product launch has __ significant attention in the market.
A) gathered
B) drew
C) attracted
D) pulled -
We must __ our resources effectively to outperform our competitors in key areas.
A) allocate
B) distribute
C) disperse
D) assign -
The report emphasizes the importance of __ customer feedback to improve our services.
A) collecting
B) collection
C) collect
D) collected -
Our competitors have been successful in __ new market segments that we haven’t explored yet.
A) penetrate
B) penetrating
C) penetration
D) penetrated -
The analysis reveals that our main competitor has a __ advantage in terms of supply chain efficiency.
A) significantly
B) significant
C) significance
D) signify -
We need to __ our product development process to keep up with the rapid innovations in the industry.
A) accelerate
B) decelerate
C) speed
D) hasten -
The competitor’s brand loyalty is __ than ours, according to the latest consumer survey.
A) strong
B) stronger
C) strongest
D) more strong -
Our company should consider __ strategic partnerships to expand our market reach.
A) form
B) forming
C) formation
D) formed -
The report indicates that our competitors are investing heavily in __ to reduce their carbon footprint.
A) sustainable
B) sustainability
C) sustain
D) sustainably -
We must __ our unique selling proposition to differentiate ourselves from our competitors.
A) emphasize
B) emphasizes
C) emphasized
D) emphasizing -
The competitor analysis suggests that we should __ our customer service to match industry standards.
A) improve
B) improving
C) improvement
D) improved -
Our main rival has __ a new loyalty program that has been well-received by customers.
A) launched
B) launching
C) launch
D) launches -
The report recommends __ our product line to cater to a wider range of consumer preferences.
A) expand
B) expanding
C) expansion
D) expanded -
We need to __ the effectiveness of our current marketing strategies against those of our competitors.
A) evaluate
B) evaluation
C) evaluating
D) evaluated -
The competitor’s recent merger has __ their market position significantly.
A) strengthen
B) strengthened
C) strengthening
D) strong -
Our company should consider __ in emerging markets to stay ahead of the competition.
A) diversify
B) diversifying
C) diversification
D) diverse -
The analysis shows that our competitors have been more successful in __ customer retention rates.
A) maintain
B) maintaining
C) maintenance
D) maintained -
We must __ our pricing strategy to remain competitive without compromising on quality.
A) optimize
B) optimization
C) optimal
D) optimally -
The report highlights the need for __ our online presence to match our competitors’ digital initiatives.
A) enhance
B) enhancing
C) enhancement
D) enhanced -
Our main competitor has __ significant market share through aggressive expansion strategies.
A) gained
B) gaining
C) gain
D) gains -
We should __ the possibility of acquiring smaller companies to strengthen our market position.
A) explore
B) exploring
C) exploration
D) explored -
The competitor analysis suggests that we need to __ our product quality to meet changing customer expectations.
A) improve
B) improving
C) improvement
D) improved -
Our company must __ to changing market conditions more quickly than our competitors.
A) adapt
B) adapting
C) adaptation
D) adaptive -
The report recommends __ our research and development efforts to stay ahead in product innovation.
A) intensify
B) intensifying
C) intensification
D) intense
Interpreting data from market research is another crucial skill that can complement your ability to analyze competitor reports effectively.
Part 2: Text Completion
In this section, you’ll find 4 short passages with 4 blanks each. Choose the best word or phrase to fill in each blank.
Passage 1:
Our recent competitor analysis report (31)__ several key insights into the market landscape. Firstly, it (32)__ that our main rival has been investing heavily in digital transformation, which has significantly improved their operational efficiency. Secondly, the report (33)__ that our competitors’ customer loyalty programs have been more successful than ours in retaining clients. Lastly, it (34)__ the need for us to diversify our product range to cater to emerging market segments.
-
A) revealed
B) revealing
C) reveals
D) reveal -
A) highlights
B) highlighted
C) highlighting
D) highlight -
A) indicate
B) indicates
C) indicated
D) indicating -
A) emphasize
B) emphasizes
C) emphasized
D) emphasizing
Passage 2:
The competitor analysis (35)__ that our main rivals have been (36)__ in penetrating new international markets. Their success can be attributed to their flexible pricing strategies and localized marketing campaigns. To counter this, our company needs to (37)__ our global expansion plans and consider (38)__ our products to suit local preferences in target markets.
-
A) shows
B) showed
C) showing
D) show -
A) succeed
B) succeeding
C) successful
D) successfully -
A) accelerate
B) accelerating
C) acceleration
D) accelerated -
A) adapt
B) adapting
C) adaptation
D) adaptive
How to interpret sales performance reports can provide additional insights that complement your understanding of competitor analysis reports.
Passage 3:
The report (39)__ that our competitors have gained a significant advantage through their adoption of artificial intelligence and machine learning technologies. These innovations have allowed them to (40)__ their production processes and improve product quality. To remain competitive, we must (41)__ in similar technologies and focus on (42)__ our workforce to effectively utilize these new tools.
-
A) indicates
B) indicated
C) indicating
D) indicate -
A) streamline
B) streamlining
C) streamlined
D) streamlines -
A) invest
B) investing
C) investment
D) invested -
A) train
B) training
C) trained
D) trains
Passage 4:
Our competitor analysis (43)__ that sustainability has become a key differentiator in the market. Many of our rivals have (44)__ significant resources to develop eco-friendly products and reduce their carbon footprint. To keep pace, we need to (45)__ our own sustainability initiatives and consider (46)__ our supply chain to minimize environmental impact.
-
A) reveals
B) revealed
C) revealing
D) reveal -
A) allocate
B) allocated
C) allocating
D) allocation -
A) accelerate
B) accelerating
C) acceleration
D) accelerated -
A) optimize
B) optimizing
C) optimization
D) optimized
Reading corporate financial projections is another valuable skill that can enhance your overall understanding of business reports, including competitor analyses.
Answer Key
Part 1: Incomplete Sentences
- A) diversifying
- A) increased
- B) revise
- B) technologies
- C) provides
- A) intensify
- C) attracted
- A) allocate
- A) collecting
- B) penetrating
- B) significant
- A) accelerate
- B) stronger
- B) forming
- B) sustainability
- A) emphasize
- A) improve
- A) launched
- B) expanding
- A) evaluate
- B) strengthened
- B) diversifying
- B) maintaining
- A) optimize
- B) enhancing
- A) gained
- A) explore
- A) improve
- A) adapt
- B) intensifying
Part 2: Text Completion
- C) reveals
- B) highlighted
- B) indicates
- B) emphasizes
- A) shows
- C) successful
- A) accelerate
- B) adapting
- A) indicates
- A) streamline
- A) invest
- B) training
- A) reveals
- B) allocated
- A) accelerate
- B) optimizing
How to prepare for a product demo is another essential skill that can complement your ability to analyze and respond to competitor strategies effectively.
TOEIC Reading: Competitor Analysis Practice
By practicing with these TOEIC Reading exercises focused on competitor analysis reports, you’ll improve your ability to comprehend complex business documents and enhance your overall TOEIC score. Remember to pay close attention to context clues and key vocabulary related to business and competition. Good luck with your TOEIC preparation!
