Exam 18: Creating Competitive Advantage

Discuss the functions and goals of a competitive intelligence system.

The market subsegment that a company exclusively caters to may dry up, or it might grow to the point that it attracts larger competitors. This is why such companies practice ________.

The competitive intelligence system continuously collects information from the field through ________.

Entrepreneurial marketing exclusively involves developing formal marketing strategies and adhering to them closely.

Companies can identify their competitors from both ________ points of view.

From a(n) ________ point of view, Pepsi might see its competition as Coca-Cola, Dr Pepper, 7UP, and the makers of other soft drink brands. From a(n) ________ point of view, however, the customer really wants "thirst quenching."

Discuss the need to understand competitors as well as customers through competitor analysis.

Marketers can expand markets by discovering and promoting ________.

Continuous innovation is the best response by a company trying to protect its market share.

In conducting ________, the company first identifies the major attributes that customers value and the importance customers place on these attributes. Next, it assesses its performance against competitors on those valued attributes.

When companies watch both their buyers and their competitors, they are called ________.

Compare and contrast the four competitive positions that are often used to describe market structures.

Why is niching profitable?

Although it might seem that the market leader has the most going for it, challengers often have what some strategists call a ________. The challenger observes what has made the leader successful and improves upon it.

Although competition is most intense within a strategic group, explain why there is also rivalry among groups. Give examples.

An analysis conducted to determine what benefits target customers value and how they rate the relative value of various competitors' offers is known as ________.

Firms that serve small segments not being pursued by other firms are called ________.

Which of the following are examples of close competitors?

Describe a scenario that shows why a company may want to avoid destroying a close competitor.

Rather than challenging head on, the challenger can make a(n) ________ on the competitor's weaknesses or on gaps in the competitor's market coverage.