Exam 11: Competitive Dynamics

Firms with low shares of the total market can become highly profitable through smart niching.

The nicher achieves high sales volume, whereas the mass marketer achieves high margin.

An alternate way to increase sales volume is to expand the number of users. This can be done by ________.

A marketing program can communicate the appropriateness and advantages of using the brand.

When the total market expands, the ________ usually gains the most.

Fads are fashions that come quickly into public view, are adopted with great zeal, peak early, and decline very fast.

Attacking the market leader proves successful and beneficial only when the leader is not serving the market well.

After Olay entered and took over the Indian market with its anti-aging lotion, Ponds decided to defend its home turf by investing heavily in a similar product, but that which used only natural ingredients. This is an example of a ________.

Price, distribution, and communication are the nonproduct elements that marketers modify to increase product sales.

Sanjiv and Sons Corp., a manufacturer of high end consumer durables, experienced a sluggish sales growth in most of its product categories during three consecutive quarters of 2009. However, market analysis revealed that its competitors' sales had also slackened during this period. Analysts pointed out that when all firms are losing sales, it is extremely important to adopt strategies that are aimed at retaining customers. This led the firm to reduce operation costs while maintaining product quality. They also revamped their marketing strategy to focus on the values created by their products. Which of the following can be inferred from the strategies adopted by the firm?

As a brand manager of a firm that manufactures denim jeans, how will you implement a preemptive defense marketing strategy to meet an anticipated competitive challenge?

One of the ways to change the course of a brand is to modify the product. Under product modification, ________ adds size, weight, materials, supplements, and accessories that expand the product's performance, versatility, safety, or convenience.

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

When firms look for new users in groups that have never used the product before, the firm is using the ________ strategy.

A creative marketer discovers solutions customers did not ask for but to which they enthusiastically respond.

Apple attacked RIM, the maker of Blackberry, through flanking. The next powerful innovation was not technological but the amazing ease of use and range of applications offered. This is an example of a(n) ________ attack.

When a bank takes loan requests over the phone and hand-delivers the money to the customer, it becomes a ________ specialist.

Selective price cuts, intense promotional blitzes, and occasional legal action are commonplace in the strategic design of a(n) ________.

What is a product-feature specialist?

________ defense involves occupying the most desirable market space in the minds of the consumers and making the brand almost impregnable.