Exam 18: Creating Competitive Advantage

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

Which of the following is a market leader strategy?

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

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

Discuss why a company really needs and benefits from competitors.

Gaining ________ requires delivering more value and satisfaction to target consumers than competitors do.

If a company identifies its competitors from an industry point of view, it must understand ________ if it hopes to be an effective player in that industry.

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

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

Which of the following statements is most likely true of market follower strategies?

From an industry point of view, Universal Pictures film studio might see its competition as ________.

In the audio equipment industry, Philips and Sony belong to the same ________.

At the narrowest level, a company can define its competitors as other companies offering similar products and services to the same customers at similar prices.

Sears and Holiday Inn encountered difficult times because they did not stand out as the lowest in cost, highest in perceived value, or best in service of their primary target market segment. Both companies are ________.

A company can protect its market share through all of the following 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 ________.

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

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

A competitor analysis requires the assessment of all of the following EXCEPT the competitors' ________.

Many approaches to developing effective competitive marketing strategies exist. There may be ________ between the formulated side of marketing and the creative side, as creativity and passion help build and maintain success.