Exam 18: Creating Competitive Advantage

As small companies achieve success,they inevitably move toward more ________ marketing.They pore over the latest Nielsen numbers,scan market research reports,and try to fine-tune their competitive strategies and programs.

An integrated group is a group of firms in an industry following the same or a similar strategy in a given target market.

Nintendo,producer of the Wii video game console,might define its competitors as other makers of physically interactive video games.But from a(n)________ point of view,it would include all firms making physically interactive recreational products.

Small firms that can't afford a competitive intelligence system often resort to using "in-house" experts to study competitors.

Companies can pursue any of which of the following three strategies,called value disciplines,for delivering superior customer value?

Which of the following is most critical for successful niching?

A company can become so ________ centered that it loses its even more important focus on maintaining profitable ________ relationships.

How can companies learn about their competitors' strengths and weaknesses?

Gaining ________ requires delivering more value and satisfaction to target consumers than competitors do.

Lovelies is the leading workout center in its area for women.The regional chain of gyms has traditionally catered to women forty and older who are interested in strength and cardiovascular training.Lovelies has recently begun promotions to bring younger women into its gyms.This is an example of how the market leader ________.

The more that one firm's strategy resembles another firm's strategy,the more likely the two firms are to ________.

Why is niching profitable?

Companies that have been in existence for some time often lose the marketing creativity and passion that they had at the start.They now need to refresh their marketing strategies and try new approaches.This is known as ________.

________ is profitable because the company knows the needs of the target customer segment better than other firms that casually attempt to sell to the same segment.

Many firms avoid direct competition with P&G and look for easier prey because firms cannot succeed by challenging the strongest competitor in a market.

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

Having identified and evaluated its major competitors,the company now must design broad competitive marketing strategies by which it can gain competitive advantage through superior ________.

Under which of the following conditions would higher market share be most likely to produce higher profits?

According to management at hotel chain Ritz-Carlton,"It's all about providing a unique,personal,memorable experience" for guests.Ritz-Carlton most likely pursues which of the following strategies?

There are specific kinds of information that companies need about their competitors.The ________ system first identifies the vital types of competitive information and the best sources of this information.