Question 1

Discuss why a company really needs and benefits from competitors.

Accepted Answer

The existence of competitors results in

Question 2

________ involves first identifying and assessing competitors and then selecting which competitors to attack or avoid.

Accepted Answer

A)  Competitor analysis 
B)  Self-competition 
C)  Blue ocean strategy 
D)  Quantitative analysis 
E)  Perfect competition 
A)  Competitor analysis 
B)  Self-competition 
C)  Blue ocean strategy 
D)  Quantitative analysis 
E)  Perfect competition

Question 3

Market leaders can grow by further increasing their market shares.

Accepted Answer

A) True 
 B)False

Question 4

American Express will do almost anything to build long-term customer loyalty and to capture customer lifetime value. Which of the following competitive marketing strategies is being pursued by American Express?

Accepted Answer

A)  consumer capitalism 
B)  customer equity 
C)  product differentiation 
D)  product leadership 
E)  customer intimacy 
A)  consumer capitalism 
B)  customer equity 
C)  product differentiation 
D)  product leadership 
E)  customer intimacy

Question 5

Discuss formal and informal marketing strategies and give examples of companies that follow these strategies.

Accepted Answer

Many large firms develop formal competit

Question 6

What is most likely a strategic benefit of the existence of competitors?

Accepted Answer

A)  Competitors seldom lead to product differentiation. 
B)  Competitors help legitimize new technologies. 
C)  Competitors exclusively serve more-attractive segments. 
D)  Competitors fracture the target market. 
E)  Competitors decrease the total demand. 
A)  Competitors seldom lead to product differentiation. 
B)  Competitors help legitimize new technologies. 
C)  Competitors exclusively serve more-attractive segments. 
D)  Competitors fracture the target market. 
E)  Competitors decrease the total demand.

Question 7

If the company's offer delivers greater value by exceeding the competitor's offer on important attributes, the company can charge a higher price and ________, or it can charge the same price and ________.

Accepted Answer

A)  earn lower profits; gain higher profits 
B)  earn higher profits; lose profits 
C)  earn higher profits; gain more market share 
D)  lose profits; gain more market share 
E)  lose profits; gain higher profits 
A)  earn lower profits; gain higher profits 
B)  earn higher profits; lose profits 
C)  earn higher profits; gain more market share 
D)  lose profits; gain more market share 
E)  lose profits; gain higher profits

Question 8

Strategies that strongly position the company against competitors and that give the company the best possible strategic advantage are ________ strategies.

Accepted Answer

A)  competitor analysis 
B)  customer relationship 
C)  competitive marketing 
D)  competitive relationship 
E)  customer identification 
A)  competitor analysis 
B)  customer relationship 
C)  competitive marketing 
D)  competitive relationship 
E)  customer identification

Question 9

Most companies prefer to compete against strong competitors.

Accepted Answer

A) True 
 B)False

Question 10

A market research firm conducts a survey of soft-drink consumers to assess Pepsi's and Coke's strengths and weaknesses in product qualities valued by both company's target customers. The market research firm is using a(n) ________.

Accepted Answer

A)  customer lifetime value estimation 
B)  global marketing strategy 
C)  competitive marketing strategy 
D)  customer value analysis 
E)  blue ocean strategy 
A)  customer lifetime value estimation 
B)  global marketing strategy 
C)  competitive marketing strategy 
D)  customer value analysis 
E)  blue ocean strategy

Question 11

________ are those runner-up firms that are working to increase their market share in an industry.

Accepted Answer

A)  Market leaders 
B)  Market challengers 
C)  Market followers 
D)  Market mavens 
E)  Market nichers 
A)  Market leaders 
B)  Market challengers 
C)  Market followers 
D)  Market mavens 
E)  Market nichers

Question 12

Which of the following are value discipline strategies?

Accepted Answer

A)  operational excellence, overall cost leadership, and differentiation 
B)  customer intimacy, operational excellence, and focus 
C)  employee relations, product leadership, and overall cost leadership 
D)  product leadership, customer intimacy, and focus 
E)  operational excellence, customer intimacy, and product leadership 
A)  operational excellence, overall cost leadership, and differentiation 
B)  customer intimacy, operational excellence, and focus 
C)  employee relations, product leadership, and overall cost leadership 
D)  product leadership, customer intimacy, and focus 
E)  operational excellence, customer intimacy, and product leadership

Question 13

In the context of identifying competitors' strategies, the more that one firm's strategy resembles another firm's strategy, the more likely the two firms are to ________.

Accepted Answer

A)  merge 
B)  compete 
C)  globalize 
D)  form a partnership 
E)  become market leaders 
A)  merge 
B)  compete 
C)  globalize 
D)  form a partnership 
E)  become market leaders

Question 14

Computer mouse and interface device maker AdvTechPRO is only a fraction the size of software giant Terminal Time Softwares Inc. AdvTechPRO manufactures every variation of computer mouse imaginable (for left-handed people, wireless mice, shaped like actual mice, LED mice, etc.). Through skillful ________, the firm dominates the PC mouse market, with Terminal Time Softwares as its runner up.

Accepted Answer

A)  centralization techniques 
B)  niching 
C)  brand imaging 
D)  vertical integration 
E)  benchmarking 
A)  centralization techniques 
B)  niching 
C)  brand imaging 
D)  vertical integration 
E)  benchmarking

Question 15

A disadvantage of a competitor-centered company is that it ends up simply matching or extending industry practices rather than seeking innovative new ways to create more value for customers.

Accepted Answer

A) True 
 B)False

Question 16

Discuss the different levels at which competitors can be identified.

Accepted Answer

At the narrowest level, a company can de

Question 17

Which of the following is most critical for successful niching?

Accepted Answer

A)  catering to global markets 
B)  buzz marketing 
C)  follow-up 
D)  specialization 
E)  mass appeal of one idea 
A)  catering to global markets 
B)  buzz marketing 
C)  follow-up 
D)  specialization 
E)  mass appeal of one idea

Question 18

Benchmarking has become a powerful tool for increasing a company's ________.

Accepted Answer

A)  product mix 
B)  mass appeal 
C)  employee training services 
D)  distribution channels 
E)  competitiveness 
A)  product mix 
B)  mass appeal 
C)  employee training services 
D)  distribution channels 
E)  competitiveness

Question 19

A company's close competitors are ________.

Accepted Answer

A)  considered "bad" competitors 
B)  a serious threat and hence, must be destroyed immediately 
C)  those that most resemble the company's operations 
D)  typically ignored as they seldom pose any threat 
E)  the sole focus of successful companies 
A)  considered "bad" competitors 
B)  a serious threat and hence, must be destroyed immediately 
C)  those that most resemble the company's operations 
D)  typically ignored as they seldom pose any threat 
E)  the sole focus of successful companies

Question 20

Name the three value disciplines.

Accepted Answer

Research indicates that companies can pu

Discuss why a company really needs and benefits from competitors.

________ involves first identifying and assessing competitors and then selecting which competitors to attack or avoid.

Market leaders can grow by further increasing their market shares.

American Express will do almost anything to build long-term customer loyalty and to capture customer lifetime value. Which of the following competitive marketing strategies is being pursued by American Express?

Discuss formal and informal marketing strategies and give examples of companies that follow these strategies.

What is most likely a strategic benefit of the existence of competitors?

If the company's offer delivers greater value by exceeding the competitor's offer on important attributes, the company can charge a higher price and , or it can charge the same price and .

Strategies that strongly position the company against competitors and that give the company the best possible strategic advantage are ________ strategies.

Most companies prefer to compete against strong competitors.

A market research firm conducts a survey of soft-drink consumers to assess Pepsi's and Coke's strengths and weaknesses in product qualities valued by both company's target customers. The market research firm is using a(n) ________.

________ are those runner-up firms that are working to increase their market share in an industry.

Which of the following are value discipline strategies?

In the context of identifying competitors' strategies, the more that one firm's strategy resembles another firm's strategy, the more likely the two firms are to ________.

A disadvantage of a competitor-centered company is that it ends up simply matching or extending industry practices rather than seeking innovative new ways to create more value for customers.

Discuss the different levels at which competitors can be identified.

Which of the following is most critical for successful niching?

Benchmarking has become a powerful tool for increasing a company's ________.

A company's close competitors are ________.

Name the three value disciplines.

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

Discuss why a company really needs and benefits from competitors.

________ involves first identifying and assessing competitors and then selecting which competitors to attack or avoid.

Market leaders can grow by further increasing their market shares.

American Express will do almost anything to build long-term customer loyalty and to capture customer lifetime value. Which of the following competitive marketing strategies is being pursued by American Express?

Discuss formal and informal marketing strategies and give examples of companies that follow these strategies.

What is most likely a strategic benefit of the existence of competitors?

If the company's offer delivers greater value by exceeding the competitor's offer on important attributes, the company can charge a higher price and ________, or it can charge the same price and ________.

Strategies that strongly position the company against competitors and that give the company the best possible strategic advantage are ________ strategies.

Most companies prefer to compete against strong competitors.

A market research firm conducts a survey of soft-drink consumers to assess Pepsi's and Coke's strengths and weaknesses in product qualities valued by both company's target customers. The market research firm is using a(n) ________.

________ are those runner-up firms that are working to increase their market share in an industry.

Which of the following are value discipline strategies?

In the context of identifying competitors' strategies, the more that one firm's strategy resembles another firm's strategy, the more likely the two firms are to ________.

A disadvantage of a competitor-centered company is that it ends up simply matching or extending industry practices rather than seeking innovative new ways to create more value for customers.

Discuss the different levels at which competitors can be identified.

Which of the following is most critical for successful niching?

Benchmarking has become a powerful tool for increasing a company's ________.

A company's close competitors are ________.

Name the three value disciplines.

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

If the company's offer delivers greater value by exceeding the competitor's offer on important attributes, the company can charge a higher price and , or it can charge the same price and .