Exam 18: Creating Competitive Advantage

Most companies tend to compete with distant competitors,who are those competitors most unlike them,rather than with close competitors.

Part two of a competitor analysis is assessing all of the following EXCEPT a company's ________.

Discuss two ways a market challenger can best attack the chosen competitor and achieve its strategic objectives.Explain when a challenger should use these attacks and provide examples of companies that have used these methods.

Almost every industry includes firms that specialize in serving target sub-segments called ________.

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."

Expanding the total market,protecting market share,and expanding market share are all strategies for ________.

A company benefits from competitors.

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

Marketers can expand markets by discovering and promoting ________.

A positive aspect of a(n)________ is that the company develops a fighter orientation,watches for weaknesses in its own position,and searches out competitors' weaknesses.

Discuss the functions and goals of a competitive intelligence system.

Continuous innovation 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.

Wal-Mart,AirAsia,and Acer serve customers who want reliable,good-quality products or services,but who want them cheaply and easily.These companies are all known for pursuing a value discipline known as ________.

Companies can identify competitors from a ________ point of view by defining competitors as companies that are trying to satisfy the same customer need or build relationships with the same customer group.

Companies need to know each competitor's product quality,features,and mix; customer services; pricing policy; distribution coverage; sales force strategy; and advertising and sales promotion programs.These are all the dimensions that identify ________ groups within the industry.

Discuss the steps in analyzing competitors.

Which of the following would be the LEAST critical question that a marketing management team might consider when assessing competitors?

Most companies prefer to aim competition against ________.

An industry often contains "good" and "bad" competitors.Good competitors ________.

There will be a constant tension between the formulated side of marketing and the ________.