Exam 18: Creating Competitive Advantage

Most of the market is in the hands of the ________, the firm with the largest market share.

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

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."

A market nicher can most likely specialize along all of the following lines EXCEPT ________.

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 are value discipline strategies?

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.

A competitive analysis involves first identifying and assessing competitors and then selecting which competitors to attack or avoid.

Almost every industry includes firms that specialize in serving target subsegments called market ________.

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

Companies that pursue a clear strategy will likely perform well. Firms that do not pursue a clear strategy are called ________.

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

In some markets, competitors live in relative harmony.

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

How can companies learn about their competitors' strengths and weaknesses?

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 ________.

Most companies tend to compete with distant competitors that are typically unlike them, rather than with close competitors.

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

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

Refer to the scenario below to answer the following question(s). Essential-Beauty is a rapidly growing firm that manufactures women's makeup, perfumes, and nail-care products. The company has established itself as a high-end cosmetic product brand available at most national drug stores. In the past, almost all of the advertising for Essential-Beauty has been in women's fashion magazines. The firm is now launching a new line of skin care products, ranging from facial cleansers to body lotion. These products are designed to be marketed to a broader audience, so the marketing team is exploring the effectiveness of different promotional mixes. -Essential-Beauty e-mailed a survey to a group of its most frequent, loyal customers. The survey asked what makeup and skin care characteristics were most important to them. The company's marketing staff then ranked the performance of Essential-Beauty products in each of these categories. Essentials was conducting a(n) ________.