Question 1

Encirclement attempts to capture a wide slice of territory by launching a grand offensive on several fronts.

Accepted Answer

A) True 
 B)False

Question 2

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

Accepted Answer

A)  Obsolescence 
B)  Introduction 
C)  Growth 
D)  Decline 
E)  Maturity 
A)  Obsolescence 
B)  Introduction 
C)  Growth 
D)  Decline 
E)  Maturity

Question 3

An inventor is the first to develop a working model while a product pioneer is the first to develop patents in a new-product category.

Accepted Answer

A) True 
 B)False

Question 4

The ________ can be used when the challenger spots areas where the opponent is underperforming.

Accepted Answer

A)  encirclement attack 
B)  frontal attack 
C)  flank-geographic attack 
D)  backwards-flank attack 
E)  guerilla warfare 
A)  encirclement attack 
B)  frontal attack 
C)  flank-geographic attack 
D)  backwards-flank attack 
E)  guerilla warfare

Question 5

The ________ copies some things from the leader but differentiates on packaging, advertising, pricing, or location.

Accepted Answer

A)  innovate 
B)  adapt 
C)  cloner 
D)  imitator 
E)  counterfeiter 
A)  innovate 
B)  adapt 
C)  cloner 
D)  imitator 
E)  counterfeiter

Question 6

A job-shop specialist ________.

Accepted Answer

A)  sells only in a certain locality, region, or area of the world 
B)  customizes its products for individual customers 
C)  operates at the low- or high-quality ends of the market 
D)  offers one or more services not available from other firms 
E)  specializes in serving only one channel of distribution 
A)  sells only in a certain locality, region, or area of the world 
B)  customizes its products for individual customers 
C)  operates at the low- or high-quality ends of the market 
D)  offers one or more services not available from other firms 
E)  specializes in serving only one channel of distribution

Question 7

The ________ attack attempts to capture a significant share of the consumer market by launching a grand offensive on several fronts.

Accepted Answer

A)  frontal 
B)  bypass 
C)  flank 
D)  encirclement 
E)  guerrilla 
A)  frontal 
B)  bypass 
C)  flank 
D)  encirclement 
E)  guerrilla

Question 8

The market leader strategy ensures high sales volume, whereas the market nicher strategy allows firms to achieve ________.

Accepted Answer

A)  high margin 
B)  low margin 
C)  high promotability 
D)  medium pricing 
E)  lower demand 
A)  high margin 
B)  low margin 
C)  high promotability 
D)  medium pricing 
E)  lower demand

Question 9

According to Peter Golder and Gerald Tellis, a(n)________ is the first to develop a working model of the product.

Accepted Answer

A)  developer 
B)  creative pioneer 
C)  market pioneer 
D)  product pioneer 
E)  inventor 
A)  developer 
B)  creative pioneer 
C)  market pioneer 
D)  product pioneer 
E)  inventor

Question 10

As a market-follower strategy, a counterfeiter emulates the leader's products, name, and packaging, with slight variations.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A)  Position defense 
B)  Flank defense 
C)  Contraction defense 
D)  Preemptive defense 
E)  Lateral defense 
A)  Position defense 
B)  Flank defense 
C)  Contraction defense 
D)  Preemptive defense 
E)  Lateral defense

Question 12

A frontal attacking strategy is another name for identifying shifts that are causing gaps to develop, then rushing to fill the gaps.

Accepted Answer

A) True 
 B)False

Question 13

When the total market expands, the dominant firm usually gains the most.

Accepted Answer

A) True 
 B)False

Question 14

Sony is an unusual market leader. It gives its customers new products that they have never asked for (e.g., Walkmans, VCRs, video cameras, CDs). This makes Sony a(n)________ firm.

Accepted Answer

A)  market-driven 
B)  market-driving 
C)  operations-driven 
D)  vision-driven 
E)  virtually-driven 
A)  market-driven 
B)  market-driving 
C)  operations-driven 
D)  vision-driven 
E)  virtually-driven

Question 15

Appy Juices, a company that manufactures bottled water, diversified into soft drinks before any of its opponents could launch a diversified product. This would be an example of a(n)________ attack.

Accepted Answer

A)  flank 
B)  bypass 
C)  guerrilla 
D)  encirclement 
E)  frontal 
A)  flank 
B)  bypass 
C)  guerrilla 
D)  encirclement 
E)  frontal

Question 16

As a market follower strategy, the ________ emulates the leader's products, name, and packaging, with slight variations.

Accepted Answer

A)  counterfeiter 
B)  cloner 
C)  imitator 
D)  adapter 
E)  innovator 
A)  counterfeiter 
B)  cloner 
C)  imitator 
D)  adapter 
E)  innovator

Question 17

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

Accepted Answer

A)  new-market segment 
B)  market-penetration 
C)  geographical-expansion 
D)  product development 
E)  diversification 
A)  new-market segment 
B)  market-penetration 
C)  geographical-expansion 
D)  product development 
E)  diversification

Question 18

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

Accepted Answer

A)  having consumers use the product on more occasions 
B)  having consumers use more of the product on each occasion 
C)  having consumers use the product in new ways 
D)  remaining in the current market segment 
E)  attracting competitors' customers 
A)  having consumers use the product on more occasions 
B)  having consumers use more of the product on each occasion 
C)  having consumers use the product in new ways 
D)  remaining in the current market segment 
E)  attracting competitors' customers

Question 19

What are end-user and vertical-level specialists?

Accepted Answer

The key idea in successful nichemanship

Question 20

In his article, "Innovative Imitation", Theodore Levitt argues that ________.

Accepted Answer

A)  imitation is wrong and should be punished 
B)  product imitation might be as profitable as product innovation 
C)  innovation is not possible without substantial imitation 
D)  innovation cannot begin unless dissatisfaction with imitation occurs 
E)  imitation should be against the law because of the intellectual property decision involved 
A)  imitation is wrong and should be punished 
B)  product imitation might be as profitable as product innovation 
C)  innovation is not possible without substantial imitation 
D)  innovation cannot begin unless dissatisfaction with imitation occurs 
E)  imitation should be against the law because of the intellectual property decision involved

Exam 11: Competitive Dynamics

Encirclement attempts to capture a wide slice of territory by launching a grand offensive on several fronts.

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

An inventor is the first to develop a working model while a product pioneer is the first to develop patents in a new-product category.

The ________ can be used when the challenger spots areas where the opponent is underperforming.

The ________ copies some things from the leader but differentiates on packaging, advertising, pricing, or location.

A job-shop specialist ________.

The ________ attack attempts to capture a significant share of the consumer market by launching a grand offensive on several fronts.

The market leader strategy ensures high sales volume, whereas the market nicher strategy allows firms to achieve ________.

According to Peter Golder and Gerald Tellis, a(n)________ is the first to develop a working model of the product.

As a market-follower strategy, a counterfeiter emulates the leader's products, name, and packaging, with slight variations.

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

A frontal attacking strategy is another name for identifying shifts that are causing gaps to develop, then rushing to fill the gaps.

When the total market expands, the dominant firm usually gains the most.

Sony is an unusual market leader. It gives its customers new products that they have never asked for (e.g., Walkmans, VCRs, video cameras, CDs). This makes Sony a(n)________ firm.

Appy Juices, a company that manufactures bottled water, diversified into soft drinks before any of its opponents could launch a diversified product. This would be an example of a(n)________ attack.

As a market follower strategy, the ________ emulates the leader's products, name, and packaging, with slight variations.

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

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

What are end-user and vertical-level specialists?

In his article, "Innovative Imitation", Theodore Levitt argues that ________.

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