Exam 18: Creating Competitive Advantage

Dell and Singapore Airlines achieve the lowest production and distribution costs to win a large market share.They utilize a(n)________ strategy very effectively.

Refer to the scenario below to answer the following questions. Essentials is a rapidly growing brand of women's makeup, perfumes, and nail care products. The company has established itself as a high-end cosmetic product available at most national drug stores. In the past, almost all of the advertising for Essentials has been in women's fashion magazines. Essentials 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,Essentials 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,Essentials was using ________.

Most companies will compete with ________ rather than ________.

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

The first step in initiating competitive marketing strategies is to conduct ________.

Profitability increases as a business gains share relative to competitors in its ________.

Whereas the mass marketer achieves ________,the nicher achieves ________.

When companies watch both their customers and their competitors,they are called ________.

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

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

Discuss why a company really needs and benefits from competitors.

Rather than challenging head on,the challenger can make ________ on the competitor's weaknesses or on gaps in the competitor's market coverage.

Knowing how major competitors react gives the company clues on how best to ________ competitors or how best to ________ the company's current positions.

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

The market leader normally gains the most when the ________.

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

Many large and mature companies get stuck in formulated marketing.They pore over the latest Nielsen numbers,scan market research reports,and try to fine-tune their competitive strategies and programs.

Refer to the scenario below to answer the following questions. Essentials is a rapidly growing brand of women's makeup, perfumes, and nail care products. The company has established itself as a high-end cosmetic product available at most national drug stores. In the past, almost all of the advertising for Essentials has been in women's fashion magazines. Essentials 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. -Essentials considers one of its most important competitors to be Estee Lauder,another marketer of high-end makeup and skin care products sold in drug stores.Based on this,it is most accurate to say that Estee Lauder and Essentials are both ________.

________ is the process of comparing the company's products and processes to those of competitors or leading firms in other industries to find ways to improve quality and performance.

Most competitors in the music download industry see Apple's iTunes Music Store as a ________ because it created a closed system with mass appeal.