Question 1

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

Accepted Answer

A competitor- centered company spends most of its time tracking competitors' moves and market shares and tries to find strategies to counter them.

Question 2

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.

Accepted Answer

A) an indirect attack 
B) an individual attack 
C) a leadership attack 
D) a frontal attack 
E) a direct attack 
A) an indirect attack 
B) an individual attack 
C) a leadership attack 
D) a frontal attack 
E) a direct attack A

Question 3

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

Accepted Answer

In order to prepare an effective marketing strategy,a company must consider its competitors as well as its customers.Building profitable customer relationships requires satisfying target consumer needs better than competitors do.A company must continually analyze competitors and develop competitive marketing strategies that position it effectively against competitors and give it the strongest possible competitive advantage.Competitor analysis first involves identifying the company's major competitors,using both an industry- based and a market- based analysis.The company then gathers information on competitors' objectives,strategies,strengths and weaknesses,and reaction patterns.With this information in hand,it can select competitors to attack or avoid.Competitive intelligence must be collected,interpreted,and distributed continuously.Company marketing managers should be able to obtain full and reliable information about any competitor affecting their decisions.

Question 4

Rather than competing head to head with established competitors,many companies seek out unoccupied positions in uncontested market spaces.They try to create products and services for which there are no direct competitors.This is called a .

Accepted Answer

A) "strategic sweet spot" 
B) "strategic platform" 
C) "common platform" 
D) "blue ocean strategy" 
E) "red ocean strategy" 
A) "strategic sweet spot" 
B) "strategic platform" 
C) "common platform" 
D) "blue ocean strategy" 
E) "red ocean strategy"

Question 5

Market leaders can grow by further increasing their market shares.

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

Bausch & Lomb moved aggressively against

Question 7

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 .

Accepted Answer

A) target locations 
B) customer value 
C) employee value 
D) employee service 
E) compensation 
A) target locations 
B) customer value 
C) employee value 
D) employee service 
E) compensation

Question 8

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.

Accepted Answer

A) "value innovation" 
B) "strategic platforms" 
C) "service nichers" 
D) "strategic sweet spots" 
E) "common platforms" 
A) "value innovation" 
B) "strategic platforms" 
C) "service nichers" 
D) "strategic sweet spots" 
E) "common platforms"

Question 9

American Express will do almost anything to build long- term customer loyalty and to capture customer lifetime value.American Express pursues which of the following competitive marketing strategies?

Accepted Answer

A) product leadership 
B) employee intimacy 
C) operational excellence 
D) customer intimacy 
E) differentiation 
A) product leadership 
B) employee intimacy 
C) operational excellence 
D) customer intimacy 
E) differentiation

Question 10

Apple's iTunes Music Store is a good competitor,one that plays by its own rules at the expense of the industry as a whole.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) market challengers 
B) market leaders 
C) market followers 
D) market nichers 
E) market providers 
A) market challengers 
B) market leaders 
C) market followers 
D) market nichers 
E) market providers

Question 12

The market challenger may launch a full ,matching the competitor's product,advertising,price,and distribution efforts.It attacks the competitor's strengths rather than its weaknesses.

Accepted Answer

A) multiple attack 
B) frontal attack 
C) direct attack 
D) strength attack 
E) indirect attack 
A) multiple attack 
B) frontal attack 
C) direct attack 
D) strength attack 
E) indirect attack

Question 13

Which of the following are market challenger strategies?

Accepted Answer

A) expand total market and protect market share 
B) follow closely and follow at a distance 
C) multiple niching 
D) expand market share and follow closely 
E) full frontal attack and indirect attack 
A) expand total market and protect market share 
B) follow closely and follow at a distance 
C) multiple niching 
D) expand market share and follow closely 
E) full frontal attack and indirect attack

Question 14

Why is niching profitable?

Accepted Answer

The main reason a market nicher can succ

Question 15

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

Accepted Answer

A) decrease;defend 
B) value;change 
C) remove;decrease 
D) attack;increase 
E) attack;defend 
A) decrease;defend 
B) value;change 
C) remove;decrease 
D) attack;increase 
E) attack;defend

Question 16

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

Accepted Answer

A) when production volume drops as market share increases 
B) when unit costs drop as market share increases 
C) when production volume increases as market share increases 
D) when unit costs increase as market share increases 
E) when the company charges a break- even price 
A) when production volume drops as market share increases 
B) when unit costs drop as market share increases 
C) when production volume increases as market share increases 
D) when unit costs increase as market share increases 
E) when the company charges a break- even price

Question 17

By trying to be good at all of the value disciplines,a company usually ends up being best at none.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is most critical for successful niching?

Accepted Answer

A) follow- up 
B) mass appeal of one idea 
C) buzz marketing 
D) specialization 
E) having only a few specific customers 
A) follow- up 
B) mass appeal of one idea 
C) buzz marketing 
D) specialization 
E) having only a few specific customers

Question 19

Almost every industry includes firms that specialize in serving target subsegments called .

Accepted Answer

A) market niches 
B) benchmarkers 
C) hotbox markets 
D) customer databases 
E) local markets 
A) market niches 
B) benchmarkers 
C) hotbox markets 
D) customer databases 
E) local markets

Question 20

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

Accepted Answer

A) management modifications 
B) absolute advantage processing 
C) a competitive advantage analysis 
D) a private screening 
E) competitor analysis 
A) management modifications 
B) absolute advantage processing 
C) a competitive advantage analysis 
D) a private screening 
E) competitor analysis

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

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

Rather than competing head to head with established competitors,many companies seek out unoccupied positions in uncontested market spaces.They try to create products and services for which there are no direct competitors.This is called a .

Market leaders can grow by further increasing their market shares.

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

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 .

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.

American Express will do almost anything to build long- term customer loyalty and to capture customer lifetime value.American Express pursues which of the following competitive marketing strategies?

Apple's iTunes Music Store is a good competitor,one that plays by its own rules at the expense of the industry as a whole.

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

The market challenger may launch a full ,matching the competitor's product,advertising,price,and distribution efforts.It attacks the competitor's strengths rather than its weaknesses.

Which of the following are market challenger strategies?

Why is niching profitable?

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

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

By trying to be good at all of the value disciplines,a company usually ends up being best at none.

Which of the following is most critical for successful niching?

Almost every industry includes firms that specialize in serving target subsegments called .

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

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing Strategies: Understanding and Capturing Customer Value

Additional Pricing Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 18: Creating Competitive Advantage

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

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

Rather than competing head to head with established competitors,many companies seek out unoccupied positions in uncontested market spaces.They try to create products and services for which there are no direct competitors.This is called a .

Market leaders can grow by further increasing their market shares.

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

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 .

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.

American Express will do almost anything to build long- term customer loyalty and to capture customer lifetime value.American Express pursues which of the following competitive marketing strategies?

Apple's iTunes Music Store is a good competitor,one that plays by its own rules at the expense of the industry as a whole.

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

The market challenger may launch a full ,matching the competitor's product,advertising,price,and distribution efforts.It attacks the competitor's strengths rather than its weaknesses.

Which of the following are market challenger strategies?

Why is niching profitable?

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

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

By trying to be good at all of the value disciplines,a company usually ends up being best at none.

Which of the following is most critical for successful niching?

Almost every industry includes firms that specialize in serving target subsegments called .

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

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing Strategies: Understanding and Capturing Customer Value

Additional Pricing Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters