Exam 12: Addressing Competition and Driving Growth

A firm that is willing to maintain its market share, and not attack the leader and other competitors in an aggressive bid for further market share, is known as a market ________.

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Question 1

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The marketing manager of a firm that manufactures cotton cloth has chosen the bypass attack as a means of responding to an industry leader. How will the manager go about launching this type of attack?

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Question 2

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The bypass attack is a strategy used by a firm to target a competitor's weaknesses and gain market share. In the case of the cotton cloth manufacturer, the marketing manager may go about launching this type of attack by identifying the industry leader's vulnerabilities and then exploiting them to gain a competitive advantage.

This could involve targeting a specific segment of the market where the industry leader is weak, such as offering a lower-priced alternative or focusing on a niche market that the leader has overlooked. The manager may also look for ways to differentiate their cotton cloth from the leader's product, such as by emphasizing superior quality, sustainability, or unique features.

Additionally, the manager may use aggressive marketing tactics to directly challenge the industry leader, such as launching a promotional campaign that highlights the shortcomings of the leader's product or offering special deals and discounts to lure customers away.

Overall, the bypass attack strategy involves a combination of identifying weaknesses in the industry leader's position, exploiting those weaknesses, and aggressively targeting the leader's customer base to gain market share.

A marketing manager has decided to "leapfrog" the competition by moving into cutting-edge technologies. This indirect approach to attacking competition can be characterized as a(n) ________ attack.

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Question 3

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________ is a slowdown in sales growth because the product has achieved acceptance by most potential buyers.

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Question 4

________ defense is an aggressive maneuver where the firm attacks first, perhaps with guerrilla action across the market and keeps everyone off balance.

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Question 5

Your marketing manager has asked you to develop a new customer strategy for your company. Additionally, you have been asked to develop, specifically, a market-penetration strategy to assist in gaining new customers. Describe a market-penetration strategy in this context.

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Question 6

A firm that is based in France designs jewelry and takes custom orders from around the world. They do not design more than 15 pieces of jewelry in a year and ensure that each design uses unique stones and is unique. Such nichemanship is an example of ________ specialist role.

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Question 7

When a firm looks for new users in groups that might use a product but do not already use the product, the firm is using the ________ strategy.

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Question 8

In a ________ defense, the market leader stretches its domain over new territories that can serve as future centers for defense and offense.

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Question 9

Sally Seabrook is an up-and-coming marketing manager for a large department store chain. Ms. Seabrook has distinguished herself with bold strategies such as launching attacks on her primary competitor from several fronts, including advertising, new store openings, and new distributor alliances. Which of the following market challenger attack strategies is Ms. Seabrook using to attack her competition?

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Question 10

Which of the following marketing strategies requires either identifying additional opportunities to use the brand in the same basic way or identifying completely new and different ways to use the brand?

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Question 11

When "petroleum" companies such as BP sought to recast themselves as "energy" companies, increasing their research into the oil, coal, nuclear, hydroelectric, and chemical industries, these companies were employing a ________ defense strategy.

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Question 12

List the five guidelines for improving the odds for marketing success in a slow-growth economy.

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Question 13

Epic Inc., a firm that produces chairs for offices, uses comparative advertising to inform consumers that its products offer the same features and quality as the competitor's. This is an example of a(n) ________ attack.

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Question 14

Guerrilla attacks consist of small, intermittent attacks, conventional and unconventional, including selective price cuts, intense promotional blitzes, and occasional legal action.

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Question 15

What is a guerilla attack?

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Question 16

A music school in Boyles Height, LA, specializes in teaching the guitar and the violin. After a spurt in growth and a few successful years, the school is experiencing a slowdown in sales and stability in its profits due to an increase in competition. The school is in the ________ stage of its life cycle.

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Question 17

Which of the following is true about proactive marketing?

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Question 18

A firm that serves small market segments that are not being served by bigger firms is known as a market ________.

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Question 19

Sales of nylon have shown a scalloped PLC pattern because of the many new uses - parachutes, hosiery, shirts, carpeting, boat sails, automobile tires - discovered over time.

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Question 20

Showing 1 - 20 of 156

Exam 12: Addressing Competition and Driving Growth

A firm that is willing to maintain its market share, and not attack the leader and other competitors in an aggressive bid for further market share, is known as a market ________.

The marketing manager of a firm that manufactures cotton cloth has chosen the bypass attack as a means of responding to an industry leader. How will the manager go about launching this type of attack?

A marketing manager has decided to "leapfrog" the competition by moving into cutting-edge technologies. This indirect approach to attacking competition can be characterized as a(n) ________ attack.

________ is a slowdown in sales growth because the product has achieved acceptance by most potential buyers.

________ defense is an aggressive maneuver where the firm attacks first, perhaps with guerrilla action across the market and keeps everyone off balance.

Your marketing manager has asked you to develop a new customer strategy for your company. Additionally, you have been asked to develop, specifically, a market-penetration strategy to assist in gaining new customers. Describe a market-penetration strategy in this context.

A firm that is based in France designs jewelry and takes custom orders from around the world. They do not design more than 15 pieces of jewelry in a year and ensure that each design uses unique stones and is unique. Such nichemanship is an example of ________ specialist role.

When a firm looks for new users in groups that might use a product but do not already use the product, the firm is using the ________ strategy.

In a ________ defense, the market leader stretches its domain over new territories that can serve as future centers for defense and offense.

Which of the following marketing strategies requires either identifying additional opportunities to use the brand in the same basic way or identifying completely new and different ways to use the brand?

When "petroleum" companies such as BP sought to recast themselves as "energy" companies, increasing their research into the oil, coal, nuclear, hydroelectric, and chemical industries, these companies were employing a ________ defense strategy.

List the five guidelines for improving the odds for marketing success in a slow-growth economy.

Epic Inc., a firm that produces chairs for offices, uses comparative advertising to inform consumers that its products offer the same features and quality as the competitor's. This is an example of a(n) ________ attack.

Guerrilla attacks consist of small, intermittent attacks, conventional and unconventional, including selective price cuts, intense promotional blitzes, and occasional legal action.

What is a guerilla attack?

Which of the following is true about proactive marketing?

A firm that serves small market segments that are not being served by bigger firms is known as a market ________.

Sales of nylon have shown a scalloped PLC pattern because of the many new uses - parachutes, hosiery, shirts, carpeting, boat sails, automobile tires - discovered over time.

Defining Marketing for the New Realities

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

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Tapping Into Global Markets

Identifying Market Segments and Targets

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Creating Brand Equity

Setting Product Strategy

Designing and Managing Services

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Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

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Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

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Managing a Holistic Marketing Organization for the Long Run

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