Exam 18: Creating Competitive Advantage

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

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

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

All of the below choices are company orientations EXCEPT which one?

An example of a company exhibiting blue-ocean thinking is ________.

When customers are willing to pay a premium to get precisely what they want and a company responds quickly to satisfy customer needs,the company has achieved what is called ________.

Kodak's film business didn't suffer at the hands of direct competitor Fujifilm; it lost out to Sony,Canon,and other digital camera makers,along with a host of digital image developers and online image sharing services.This is an example of ________.

Compare the four competitive positions that are often used to describe market structures.

All of the following statements identify benefits from the existence of competitors EXCEPT?

Name the three value disciplines.Why do firms establish them?

Describe a scenario that shows why a company may want to avoid destroying a close competitor.

To remain number one,leading firms can take any of three actions.First,they can find ways to expand total demand.Second,they can protect their current market share through good defensive and offensive actions.Third,they can ________.

Gary Han of Fraser's Hill yogurt company stated that "companies can do better with less advertising,less marketing research,more guerilla marketing,and more acting from the gut." At this point,Gary was following which marketing strategy?

Approaches to marketing strategy and practice often pass through three stages: entrepreneurial marketing,formulated marketing,and strategic marketing.

Computer mouse and interface device maker Logitech is only a fraction the size of giant Microsoft.Yet through skillful ________,it dominates the PC mouse market,with Microsoft as its runner up.

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.

Most companies are started by individuals who live by their wits.They visualize an opportunity,construct flexible strategies on the backs of envelopes,and knock on every door to gain attention.What stage in marketing strategy are these individuals in?

Strategies that strongly position the company against competitors and that give the company the strongest possible strategic advantage are ________.

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

A negative side of the ________ is that the company becomes too reactive.Rather than carry out its own customer relationship strategy,it bases its own moves on competitors' moves.