Exam 18: Creating Competitive Advantage

Most companies will compete with ________ rather than ________.

An example of a company exhibiting a blue ocean strategy is ________.

From a market point of view, Universal Pictures might see its competition as ________.

Give examples of competitor objectives and discuss the importance of knowing a competitor's mix of objectives.

What is the primary focus of a customer-centered company?

Country Kitchen and Perkins are both a chain of family restaurants featuring diner-like menus with reasonably priced items. These companies are in the same ________.

When Gary Hirshberg started the Stonyfield Farm yogurt company, he stated that his company could do better with less advertising, less marketing research, and more guerrilla marketing. He came up with innovative marketing ideas to promote his products such as having sales personnel dress up as large yogurt cartons to distribute free yogurt samples. Which of the following marketing strategies was being implemented by Hirshberg?

Smaller companies may assign specific executives to watch particular competitors. A manager who used to work for a competitor might follow that competitor closely to see what it does in the marketplace. Such a manager would be considered the company's ________ on that competitor.

When a company provides superior value by leading its industry in price and convenience, it has obtained ________.

A runner-up firm that wants to hold its share in an industry without rocking the boat is a ________.

A company that focuses on customer developments in designing its marketing strategies and on delivering superior value to its target customers is a ________.

Which of the following is a market leader strategy?

Companies with multiple products or businesses typically choose one marketing strategy for all their different businesses or products.

Discuss the four evolving company orientations. Which orientation is considered most successful and why?

Rather than competing head to head with established competitors, many companies seek out unoccupied positions in uncontested market spaces. They try to create products and services for which there are no direct competitors. This is called a ________.

Discuss two ways a market challenger can best attack the chosen competitor and achieve its strategic objectives. Explain when a challenger should use these attacks and provide examples of companies that have used these methods.

Which of the following is a competitive position or role that firms play in the target market?

Tomorrow's leading companies will succeed by seeking out unoccupied positions in uncontested market spaces. Such strategic moves, termed ________, create powerful leaps in value for both the firm and its buyers, creating new demand for new products.

Companies that operate large marketing departments, conduct expensive marketing research, spell out elaborate competitive strategies, and spend huge sums on advertising are using ________ marketing strategies.

Which of the following is a negative aspect of a competitor-centered company?