Exam 11: Competitive Dynamics

Oliver, a company that produces different types of olive oil, launched a promotional campaign focusing on the alternative uses of olive oil. What strategy is the company implementing to expand its total market demand?

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Question 1

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

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Question 2

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Which three groups of customers can help expand a firm's market demand?

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Question 3

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Every product class has the potential to attract buyers who are unaware of the product or are resisting it because of price or lack of certain features. A company can search for new users among three groups: those who might use it but do not (market-penetration strategy), those who have never used it (new-market segment strategy), or those who live elsewhere (geographical-expansion strategy).

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

(True/False)

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Question 4

Which of the following is the most constructive response a market leader can make when defending its market share?

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Question 5

What is counteroffensive defense? Explain with an example.

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Question 6

Tasteeos, Fruit Rings, and Corn Flakes sell for nearly $1 a box less than leading cereal brands. Which market follower strategy is being employed by the cereal manufacturer?

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Question 7

For a market challenger, attacking ________ is a high risk but potentially high payoff strategy, which also allows it to distance itself from other challengers.

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Question 8

Which of the following is true about market-nichers?

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Question 9

A marketing manager has planned a strategy that will require the organization to erect outposts to protect its weak front-running brands. In this ________ defense, the outposts will be central to the organization's new competitive strategy.

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Question 10

An alternate way to increase sales volume is to expand the number of users by having them consume more of the product on each occasion.

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Question 11

Which of the following is true about proactive marketing?

(Multiple Choice)

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Question 12

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

(Multiple Choice)

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Question 13

Who is a market-nicher?

(Essay)

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Question 14

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

(True/False)

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Question 15

An alternate way to increase sales volume is to increase the usage rate among users. This can be done by ________.

(Multiple Choice)

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Question 16

________ is a distribution strategy that can be effectively used during the growth stage of the product life cycle.

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Question 17

Which are the three ways to change the course for a brand?

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Question 18

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 different from the other. Such nichemanship is an example of ________ specialist role.

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Question 19

An anticipative marketer finds a stated need and fills it.

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Question 20

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Exam 11: Competitive Dynamics

Oliver, a company that produces different types of olive oil, launched a promotional campaign focusing on the alternative uses of olive oil. What strategy is the company implementing to expand its total market demand?

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

Which three groups of customers can help expand a firm's market demand?

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

Which of the following is the most constructive response a market leader can make when defending its market share?

What is counteroffensive defense? Explain with an example.

Tasteeos, Fruit Rings, and Corn Flakes sell for nearly $1 a box less than leading cereal brands. Which market follower strategy is being employed by the cereal manufacturer?

For a market challenger, attacking ________ is a high risk but potentially high payoff strategy, which also allows it to distance itself from other challengers.

Which of the following is true about market-nichers?

A marketing manager has planned a strategy that will require the organization to erect outposts to protect its weak front-running brands. In this ________ defense, the outposts will be central to the organization's new competitive strategy.

An alternate way to increase sales volume is to expand the number of users by having them consume more of the product on each occasion.

Which of the following is true about proactive marketing?

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

Who is a market-nicher?

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

An alternate way to increase sales volume is to increase the usage rate among users. This can be done by ________.

________ is a distribution strategy that can be effectively used during the growth stage of the product life cycle.

Which are the three ways to change the course for a brand?

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 different from the other. Such nichemanship is an example of ________ specialist role.

An anticipative marketer finds a stated need and fills it.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

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

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Introducing New Market Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization for the Long Run

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