Question 1

According to the overall cost leadership competitive strategy, the company works hard to achieve the lowest production and distribution costs.

Accepted Answer

A) True 
 B)False  True

Question 2

Describe a strategic group. Name a few companies that belong to the same strategic group, and discuss why they are in the same group.

Accepted Answer

A strategic group is a group of firms in an industry following the same or a similar strategy in a given target market. General Electric and Whirlpool belong to the same strategic group because each produces a full line of medium-price appliances supported by good service.

Question 3

Fifty percent of the market is in the hands of Company A. Another 30 percent is in the hands of Company B. Fifteen percent is in the hands of Company C, and the remaining five percent is in the hands of Company D. Based on these hypothetical numbers, Company B is the market ________.

Accepted Answer

A)  leader 
B)  challenger 
C)  follower 
D)  nicher 
E)  maven 
A)  leader 
B)  challenger 
C)  follower 
D)  nicher 
E)  maven B

Question 4

Each competitor has a mix of objectives. The company wants to know the relative importance that a competitor places on all of the following EXCEPT ________.

Accepted Answer

A)  company history 
B)  current profitability 
C)  market share growth 
D)  cash flow 
E)  technological leadership 
A)  company history 
B)  current profitability 
C)  market share growth 
D)  cash flow 
E)  technological leadership

Question 5

Which of the following is the first step taken in the competitive intelligence system?

Accepted Answer

A)  collect published data and information from the field 
B)  check, interpret, and organize gathered information 
C)  identify the vital types of competitive information needed 
D)  respond to inquiries from managers about competitors 
E)  create a new brand image and marketing concept for the firm 
A)  collect published data and information from the field 
B)  check, interpret, and organize gathered information 
C)  identify the vital types of competitive information needed 
D)  respond to inquiries from managers about competitors 
E)  create a new brand image and marketing concept for the firm

Question 6

Which of the following are market challenger strategies?

Accepted Answer

A)  expand total market and protect market share 
B)  expand market share and follow closely 
C)  full frontal attack and indirect attack 
D)  follow closely and follow at a distance 
E)  multiple niching and quality service 
A)  expand total market and protect market share 
B)  expand market share and follow closely 
C)  full frontal attack and indirect attack 
D)  follow closely and follow at a distance 
E)  multiple niching and quality service

Question 7

The market leader normally gains the most when ________.

Accepted Answer

A)  its total market diminishes 
B)  it achieves expanded market share 
C)  its personal communication channels expand 
D)  the niche marketing efforts by other firms expand 
E)  the major global competitors enter the market 
A)  its total market diminishes 
B)  it achieves expanded market share 
C)  its personal communication channels expand 
D)  the niche marketing efforts by other firms expand 
E)  the major global competitors enter the market

Question 8

An industry often contains "good" competitors and "bad"competitors. Define each term and discuss scenarios with both "good" and "bad" competitors. How might "good" competitors choose to react to "bad" competition?

Accepted Answer

Good competitors play by the rules of th

Question 9

According to Michael Porter, what are three effective competitive positioning strategies?

Accepted Answer

A)  middle-of-the-roaders, focus, and overall cost leadership 
B)  focus, differentiation, and middle-of-the-roaders 
C)  overall cost leadership, differentiation, and middle-of-the-roaders 
D)  overall cost leadership, differentiation, and focus 
E)  differentiation, market segmentation, and focus 
A)  middle-of-the-roaders, focus, and overall cost leadership 
B)  focus, differentiation, and middle-of-the-roaders 
C)  overall cost leadership, differentiation, and middle-of-the-roaders 
D)  overall cost leadership, differentiation, and focus 
E)  differentiation, market segmentation, and focus

Question 10

What is the purpose of benchmarking?

Accepted Answer

A company uses benchmarking to

Question 11

Many large and mature companies get stuck in formulated marketing. They pore over the latest Nielsen numbers, scan market research reports, and try to fine-tune their competitive strategies and programs.

Accepted Answer

A) True 
 B)False

Question 12

What are the stages that the approaches to marketing strategy and practice usually pass through?

Accepted Answer

A)  ambush marketing, multi-level marketing, and guerrilla marketing 
B)  guerrilla marketing, ambush marketing, and affinity marketing 
C)  multi-level marketing, undercover marketing, and evangelism marketing 
D)  entrepreneurial marketing, formulated marketing, and intrepreneurial marketing 
E)  undercover marketing, affinity marketing, and ambush marketing 
A)  ambush marketing, multi-level marketing, and guerrilla marketing 
B)  guerrilla marketing, ambush marketing, and affinity marketing 
C)  multi-level marketing, undercover marketing, and evangelism marketing 
D)  entrepreneurial marketing, formulated marketing, and intrepreneurial marketing 
E)  undercover marketing, affinity marketing, and ambush marketing

Question 13

Kodak's film business didn't lose out to direct competitor Fujifilm; it lost out to Sony, Canon, and other digital camera makers, along with a host of digital image developers and online image sharing services. This is an example of ________.

Accepted Answer

A)  a blue ocean strategy 
B)  competitor backlinking 
C)  self-competition 
D)  competitor myopia 
E)  marketing myopia 
A)  a blue ocean strategy 
B)  competitor backlinking 
C)  self-competition 
D)  competitor myopia 
E)  marketing myopia

Question 14

The first step in initiating competitive marketing strategies is to ________.

Accepted Answer

A)  balance customer and competitor orientations 
B)  design broad competitive marketing strategies 
C)  assess long-term organizational objectives 
D)  conduct competitor analysis 
E)  conduct transaction analysis 
A)  balance customer and competitor orientations 
B)  design broad competitive marketing strategies 
C)  assess long-term organizational objectives 
D)  conduct competitor analysis 
E)  conduct transaction analysis

Question 15

As small companies achieve success, they inevitably move toward more ________ marketing. They adopt more-developed marketing tools and adhere to them closely.

Accepted Answer

A)  ambush 
B)  formulated 
C)  entrepreneurial 
D)  intrepreneurial 
E)  multi-level 
A)  ambush 
B)  formulated 
C)  entrepreneurial 
D)  intrepreneurial 
E)  multi-level

Question 16

A market challenger that matches the competitor's product, advertising, price, and distribution efforts is most likely ________.

Accepted Answer

A)  creating multiple niches 
B)  pursuing an indirect attack 
C)  launching a full frontal attack 
D)  exiting from the current market 
E)  implementing a blue ocean strategy 
A)  creating multiple niches 
B)  pursuing an indirect attack 
C)  launching a full frontal attack 
D)  exiting from the current market 
E)  implementing a blue ocean strategy

Question 17

Fosters and Mason House, two major coffee brands, competed neck and neck based on their product attributes and price promotions. They were soon blindsided by the arrival of Starcoffeez, which focused more on the coffee experience rather than the coffee. This resulted in major losses for the two companies. This is an example of ________.

Accepted Answer

A)  self-competition 
B)  competitor myopia 
C)  competitor backlinking 
D)  marketing myopia 
E)  perfect competition 
A)  self-competition 
B)  competitor myopia 
C)  competitor backlinking 
D)  marketing myopia 
E)  perfect competition

Question 18

The presence of competitors may serve less-attractive segments or lead to more product differentiation.

Accepted Answer

A) True 
 B)False

Question 19

Discuss the steps in analyzing competitors.

Accepted Answer

Creating competitive advantage begins wi

Question 20

Profitability increases as a business gains share relative to competitors in its ________.

Accepted Answer

A)  higher market 
B)  direct market 
C)  secondary market 
D)  served market 
E)  valued market 
A)  higher market 
B)  direct market 
C)  secondary market 
D)  served market 
E)  valued market

According to the overall cost leadership competitive strategy, the company works hard to achieve the lowest production and distribution costs.

Describe a strategic group. Name a few companies that belong to the same strategic group, and discuss why they are in the same group.

Fifty percent of the market is in the hands of Company A. Another 30 percent is in the hands of Company B. Fifteen percent is in the hands of Company C, and the remaining five percent is in the hands of Company D. Based on these hypothetical numbers, Company B is the market ________.

Each competitor has a mix of objectives. The company wants to know the relative importance that a competitor places on all of the following EXCEPT ________.

Which of the following is the first step taken in the competitive intelligence system?

Which of the following are market challenger strategies?

The market leader normally gains the most when ________.

An industry often contains "good" competitors and "bad"competitors. Define each term and discuss scenarios with both "good" and "bad" competitors. How might "good" competitors choose to react to "bad" competition?

According to Michael Porter, what are three effective competitive positioning strategies?

What is the purpose of benchmarking?

Many large and mature companies get stuck in formulated marketing. They pore over the latest Nielsen numbers, scan market research reports, and try to fine-tune their competitive strategies and programs.

What are the stages that the approaches to marketing strategy and practice usually pass through?

Kodak's film business didn't lose out to direct competitor Fujifilm; it lost out to Sony, Canon, and other digital camera makers, along with a host of digital image developers and online image sharing services. This is an example of ________.

The first step in initiating competitive marketing strategies is to ________.

As small companies achieve success, they inevitably move toward more ________ marketing. They adopt more-developed marketing tools and adhere to them closely.

A market challenger that matches the competitor's product, advertising, price, and distribution efforts is most likely ________.

The presence of competitors may serve less-attractive segments or lead to more product differentiation.

Discuss the steps in analyzing competitors.

Profitability increases as a business gains share relative to competitors in its ________.

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

New-Product Development and Product Life Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 18: Creating Competitive Advantage

According to the overall cost leadership competitive strategy, the company works hard to achieve the lowest production and distribution costs.

Describe a strategic group. Name a few companies that belong to the same strategic group, and discuss why they are in the same group.

Fifty percent of the market is in the hands of Company A. Another 30 percent is in the hands of Company B. Fifteen percent is in the hands of Company C, and the remaining five percent is in the hands of Company D. Based on these hypothetical numbers, Company B is the market ________.

Each competitor has a mix of objectives. The company wants to know the relative importance that a competitor places on all of the following EXCEPT ________.

Which of the following is the first step taken in the competitive intelligence system?

Which of the following are market challenger strategies?

The market leader normally gains the most when ________.

An industry often contains "good" competitors and "bad"competitors. Define each term and discuss scenarios with both "good" and "bad" competitors. How might "good" competitors choose to react to "bad" competition?

According to Michael Porter, what are three effective competitive positioning strategies?

What is the purpose of benchmarking?

Many large and mature companies get stuck in formulated marketing. They pore over the latest Nielsen numbers, scan market research reports, and try to fine-tune their competitive strategies and programs.

What are the stages that the approaches to marketing strategy and practice usually pass through?

Kodak's film business didn't lose out to direct competitor Fujifilm; it lost out to Sony, Canon, and other digital camera makers, along with a host of digital image developers and online image sharing services. This is an example of ________.

The first step in initiating competitive marketing strategies is to ________.

As small companies achieve success, they inevitably move toward more ________ marketing. They adopt more-developed marketing tools and adhere to them closely.

A market challenger that matches the competitor's product, advertising, price, and distribution efforts is most likely ________.

The presence of competitors may serve less-attractive segments or lead to more product differentiation.

Discuss the steps in analyzing competitors.

Profitability increases as a business gains share relative to competitors in its ________.

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

New-Product Development and Product Life Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters