Exam 11: Competitive Dynamics

A responsive marketer looks ahead to needs customers may have in the near future.

What must the firm do to sustain rapid market share growth?

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?

A market nicher is considered to be a(n)________ specialist if the firm specializes in producing a certain type of product or product feature such as, Rent-a-Wreck, that rents only "beat-up" cars.

Market diversification shifts the company's focus to unrelated industries.

In contraction defense, the leader stretches its domain over new territories through market broadening and market diversification.

A(n)________ marketer discovers solutions customers did not ask for but to which they Enthusiastically respond.

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

What are fads?

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?

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?

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

A fashion is a basic and distinctive mode of expression appearing in a field of human endeavor.

The product strategy during the maturity stage of the product life cycle should be to build more intensive distribution.

When Starbucks introduced its Tazo Tea line to bring in new customers who had never gone to Starbucks because they don't drink coffee, Starbucks was employing a ________ strategy.

Assume that your firm is a market leader in manufacturing detergent. How would the firm use position defense as a defensive marketing strategy to maintain its share?

Benz & Frendz 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?

Increasing amount of consumption requires identifying additional opportunities to use the brand in the same basic way.

An alternate way to increase sales volume is to expand the number of users by converting nonusers.

A(n)________ marketer looks ahead to needs customers may have in the near future.