Exam 18: Creating Competitive Advantage

Which of the following is the best response a company can make to competitive threats?

Due to differences in available data,business-to-business marketers find it more difficult than business-to-consumer marketers to estimate competitors' market shares.

A firm should compete with ________ competitors in order to sharpen its abilities.Succeeding against these competitors often provides greater returns.

PepsiCo conducts a survey of Coca-Cola drinkers to assess the Pepsi's and Coke's strengths and weaknesses in product qualities valued by both company's target customers.PepsiCo is using a(n)________.

If the company's offer delivers greater value by exceeding the competitor's offer on important attributes,the company can charge a higher price and ________,or it can charge the same price and ________.

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

________ are those runner-up firms that are working to increase their market share in an industry.

A manager who used to work for a competitor might follow that competitor closely to see what it does in the marketplace.Such a manager would be considered your company's ________ expert.

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

The existence of competitors in a market may help a company increase total demand.

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.

Market leaders can grow by further increasing their market shares.

Which statement does NOT accurately describe a competitive intelligence system?

Approaches to marketing strategy and practice often pass through which of the three following stages?

Discuss two different levels at which competitors can be identified.

Apple and Microsoft are open to new ideas,relentlessly pursue new solutions,and work to get new products to market quickly.They serve customers who want state-of-the-art products and services,regardless of the costs in terms of price or inconvenience.These companies are offering what value discipline?

What is the purpose of benchmarking?

Cozy Country Market entered the candle market with a niche product: a line of candles made from soy that produce less smoke and last up to twice as long as other candles.Cozy Country Market sold its new line for about twice what you would pay for candles from a chain gift shop such as Hallmark.The product was sold online and in unconventional outlets not dominated by the market leaders.In this case,Cozy Country Market was using ________ against the market leaders.

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

To plan effective marketing strategies,the company needs to find out all it can about its employees.