Exam 18: Creating Competitive Advantage

Porsche is a German automobile manufacturer that competes against BMW and Audi, but only in the sports car and SUV segments of the automobile market. Porsche utilizes a(n) ________ strategy.

Companies use secondary data, personal experience, and word of mouth to ________.

A product-oriented company focuses on ________.

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

Market leaders can expand the market by ________ and more usage of the product.

Marketers need an in-depth understanding of ________ if they want to anticipate how that competitor will act.

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

Most companies will compete with ________ rather than ________.

Discuss the different levels at which competitors can be identified.

The goal of a "blue ocean strategy" is to make competition irrelevant.

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. -Before deciding to launch the new line of products, Essential-Beauty conducted extensive market research to make sure the products were optimally positioned. A complete marketing plan including mobile advertising, magazine advertising, event sponsorship, and sales promotions was established long before the products themselves were ready for market. In this case, Essential-Beauty was using ________.

Which of the following are value discipline strategies?

Fifty percent of the market is in the hands of Company A, 30 percent is in the hands of Company B, 15 percent is in the hands of Company C, and the remaining 5 percent is in the hands of Company D. Based on these hypothetical numbers, Company B is the market ________.

Describe a strategic group. Name a few companies that belong to the same strategic group, and discuss why they are in the same group.

Which of the following does NOT apply to a customer-centered company?

Explain how the United States Postal Service has "competitor myopia."

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

The competitive intelligence system of a company supplies key information to relevant decision makers about the company's competitors.

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.

________ can adopt one of two competitive strategies: they can challenge the leader or they can play along with competitors and not rock the boat.