Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

As a market follower strategy, the ________ duplicates the leader's product and packages and sells it on the black market or through disreputable dealers.

Accepted Answer

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

Question 3

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?

Accepted Answer

A preemptive defense is a more aggressiv

Question 4

What is a product-feature specialist?

Accepted Answer

As a product-feature specialist speciali

Question 5

What is a guerilla attack?

Accepted Answer

Guerrilla attacks consist of small, inte

Question 6

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.

Accepted Answer

The market-penetration strateg

Question 7

Assume that you are the marketing manager of a firm that manufactures athletic shoes. How will you launch an encirclement attack on your competitor?

Accepted Answer

Encirclement attempts to capture a wide

Question 8

Which three groups of marketers help satisfy a customer's needs?

Accepted Answer

In satisfying customer needs, one can dr

Question 9

Heavy focus on price reductions and discounts during recession allow firms to improve long-term brand equity and price integrity.

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

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

Question 11

Pepsodent launched a new product that could whiten teeth, fight decay, and maintain fresh breath. Observing that Pepsodent did not focus on the dental sensitivity aspect, Colgate introduced a toothpaste which did all of the above and also protected sensitive teeth. This is an example of a(n)________ attack.

Accepted Answer

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

Question 12

In a pure ________ attack, the attacker matches its opponent's product, advertising, price, and distribution.

Accepted Answer

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

Question 13

________ is the period of slow sales growth and nonexistent profits.

Accepted Answer

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

Question 14

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

Accepted Answer

A)  counteroffensive defense 
B)  flank defense 
C)  contraction defense 
D)  mobile defense 
E)  position defense 
A)  counteroffensive defense 
B)  flank defense 
C)  contraction defense 
D)  mobile defense 
E)  position defense

Question 15

Which of the following strategies should be adopted by marketers during a recession?

Accepted Answer

A)  increase investment on marketing existing products 
B)  focus on expanding the customer base and not on the retention of existing customers 
C)  focus primarily on price reductions and discounts 
D)  concentrate on communicating the brand value and product quality to consumers 
E)  stick to the budget allocations adopted during the preceding years 
A)  increase investment on marketing existing products 
B)  focus on expanding the customer base and not on the retention of existing customers 
C)  focus primarily on price reductions and discounts 
D)  concentrate on communicating the brand value and product quality to consumers 
E)  stick to the budget allocations adopted during the preceding years

Question 16

Who are the ideal opponents of a market challenger?

Accepted Answer

The opponents of a market chal

Question 17

Newman Inc. is a company that manufactures saddles specifically for horses that race in derbies in the U.S. and the UK. Within this context the firm is exhibiting the role of a ________ specialist.

Accepted Answer

A)  vertical-level 
B)  customer-size 
C)  product-line 
D)  job-shop 
E)  service 
A)  vertical-level 
B)  customer-size 
C)  product-line 
D)  job-shop 
E)  service

Question 18

A dance school in the Bronx teaches professional hip-hop and salsa. It is experiencing an increase in student admissions, which is leading to substantial improvement in profits. The school is going through the ________ phase of its life cycle.

Accepted Answer

A)  decline 
B)  stagnancy 
C)  growth 
D)  introduction 
E)  maturity 
A)  decline 
B)  stagnancy 
C)  growth 
D)  introduction 
E)  maturity

Question 19

Redo is a market follower in the wristwatch industry. After noticing a shortfall in the market leader's product, Redo improves its product to suit consumer needs and becomes a challenger for the market leader. This is an example of ________.

Accepted Answer

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

Question 20

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

Accepted Answer

A) True 
 B)False

Exam 11: Competitive Dynamics

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

As a market follower strategy, the ________ duplicates the leader's product and packages and sells it on the black market or through disreputable dealers.

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?

What is a product-feature specialist?

What is a guerilla attack?

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.

Assume that you are the marketing manager of a firm that manufactures athletic shoes. How will you launch an encirclement attack on your competitor?

Which three groups of marketers help satisfy a customer's needs?

Heavy focus on price reductions and discounts during recession allow firms to improve long-term brand equity and price integrity.

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

In a pure ________ attack, the attacker matches its opponent's product, advertising, price, and distribution.

________ is the period of slow sales growth and nonexistent profits.

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

Which of the following strategies should be adopted by marketers during a recession?

Who are the ideal opponents of a market challenger?

Newman Inc. is a company that manufactures saddles specifically for horses that race in derbies in the U.S. and the UK. Within this context the firm is exhibiting the role of a ________ specialist.

A dance school in the Bronx teaches professional hip-hop and salsa. It is experiencing an increase in student admissions, which is leading to substantial improvement in profits. The school is going through the ________ phase of its life cycle.

Redo is a market follower in the wristwatch industry. After noticing a shortfall in the market leader's product, Redo improves its product to suit consumer needs and becomes a challenger for the market leader. This is an example of ________.

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

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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