Question 1

The competitive intelligence system continuously collects information from the field through ________.

Accepted Answer

A)  government publications 
B)  online monitoring 
C)  speeches 
D)  online databases 
E)  market surveys 
A)  government publications 
B)  online monitoring 
C)  speeches 
D)  online databases 
E)  market surveys

Question 2

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

Accepted Answer

A)  customer; competitor 
B)  competitor; customer 
C)  market; customer 
D)  market; competitor 
E)  competitor; product 
A)  customer; competitor 
B)  competitor; customer 
C)  market; customer 
D)  market; competitor 
E)  competitor; product

Question 3

Companies can identify competitors from a(n) ________ 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.

Accepted Answer

A)  customer 
B)  blue ocean 
C)  market 
D)  myopic 
E)  industry 
A)  customer 
B)  blue ocean 
C)  market 
D)  myopic 
E)  industry

Question 4

Competitive exchanges such as comparison advertisements can provide useful information to consumers and advantages from brands. However, they also might reflect negatively on the entire industry.

Accepted Answer

A) True 
 B)False

Question 5

Competitors may serve less-attractive segments or lead to more product differentiation.

Accepted Answer

A) True 
 B)False

Question 6

________ involves first identifying and assessing competitors and then selecting which competitors to attack or avoid.

Accepted Answer

A)  Competitor analysis 
B)  Self-competition 
C)  Blue ocean strategy 
D)  Quantitative analysis 
E)  Perfect competition 
A)  Competitor analysis 
B)  Self-competition 
C)  Blue ocean strategy 
D)  Quantitative analysis 
E)  Perfect competition

Question 7

Computer mouse and interface device maker AdvTechPRO is only a fraction the size of software giant Terminal Time Software Inc. AdvTechPRO manufactures every variation of computer mouse imaginable (for left-handed people, wireless mice, shaped like actual mice, LED mice, etc.). Through skillful ________, the firm dominates the PC mouse market, with Terminal Time Software as its runner up.

Accepted Answer

A)  centralization techniques 
B)  niching 
C)  brand imaging 
D)  vertical integration 
E)  benchmarking 
A)  centralization techniques 
B)  niching 
C)  brand imaging 
D)  vertical integration 
E)  benchmarking

Question 8

Kodak's film business didn't lose out to 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 ________.

Accepted Answer

A)  a blue ocean strategy 
B)  competitor backlinking 
C)  self-competition 
D)  competitor myopia 
E)  marketing myopia 
A)  a blue ocean strategy 
B)  competitor backlinking 
C)  self-competition 
D)  competitor myopia 
E)  marketing myopia

Question 9

Which of the following is the first step taken in the competitive intelligence system?

Accepted Answer

A)  collect published data and information from the field 
B)  check, interpret, and organize gathered information 
C)  identify the vital types of competitive information needed 
D)  respond to inquiries from managers about competitors 
E)  create a new brand image and marketing concept for the firm 
A)  collect published data and information from the field 
B)  check, interpret, and organize gathered information 
C)  identify the vital types of competitive information needed 
D)  respond to inquiries from managers about competitors 
E)  create a new brand image and marketing concept for the firm

Question 10

Most competitors in the music download industry see Apple's iTunes Music Store as a ________ because it created a closed system with mass appeal.

Accepted Answer

A)  good competitor 
B)  marginal competitor 
C)  weak competitor 
D)  bad competitor 
E)  distant competitor 
A)  good competitor 
B)  marginal competitor 
C)  weak competitor 
D)  bad competitor 
E)  distant competitor

Question 11

Whereas the mass marketer achieves ________, the nicher achieves ________.

Accepted Answer

A)  low margins; low volume 
B)  low volume; high margins 
C)  high volume; high margins 
D)  high volume; low margins 
E)  high margins; high volume 
A)  low margins; low volume 
B)  low volume; high margins 
C)  high volume; high margins 
D)  high volume; low margins 
E)  high margins; high volume

Question 12

When companies watch both their buyers and their competitors, they are called ________ companies.

Accepted Answer

A)  product-centered 
B)  market-centered 
C)  customer-centered 
D)  competitor-centered 
E)  cost-centered 
A)  product-centered 
B)  market-centered 
C)  customer-centered 
D)  competitor-centered 
E)  cost-centered

Question 13

Essential-Beauty e-mailed a survey to a group of its most frequent, loyal customers. The survey asked what makeup and skin care characteristics were most important to them. The company's marketing staff then ranked the performance of Essential-Beauty products in each of these categories. Essentials was conducting a(n) ________.

Accepted Answer

A)  customer lifetime value survey 
B)  entrepreneurial marketing strategy 
C)  intrepreneurial marketing strategy 
D)  customer value proposition 
E)  customer value analysis 
A)  customer lifetime value survey 
B)  entrepreneurial marketing strategy 
C)  intrepreneurial marketing strategy 
D)  customer value proposition 
E)  customer value analysis

Question 14

To plan effective marketing strategies, the company must ignore its competitors.

Accepted Answer

A) True 
 B)False

Question 15

A market nicher can most likely specialize along all of the following lines EXCEPT ________.

Accepted Answer

A)  specific end users 
B)  unique products 
C)  customized services 
D)  quality-price 
E)  mass marketing 
A)  specific end users 
B)  unique products 
C)  customized services 
D)  quality-price 
E)  mass marketing

Question 16

The market leader normally gains the most when ________.

Accepted Answer

A)  its total market diminishes 
B)  it achieves expanded market share 
C)  its personal communication channels expand 
D)  the niche marketing efforts by other firms expand 
E)  the major global competitors enter the market 
A)  its total market diminishes 
B)  it achieves expanded market share 
C)  its personal communication channels expand 
D)  the niche marketing efforts by other firms expand 
E)  the major global competitors enter the market

Question 17

To plan effective marketing strategies, a company needs to find out all it can about its competitors. It must constantly compare its marketing strategies, products, prices, channels, and promotions with those of close competitors. This is an example of ________.

Accepted Answer

A)  blue ocean strategy 
B)  competitor analysis 
C)  organizational evaluation 
D)  perfect competition 
E)  quantitative analysis 
A)  blue ocean strategy 
B)  competitor analysis 
C)  organizational evaluation 
D)  perfect competition 
E)  quantitative analysis

Question 18

Refer to the scenario below to answer the following question(s).
Essential-Beauty is a rapidly growing firm that manufactures women's makeup, perfumes, and nail-care products. The company has established itself as a high-end cosmetic product brand available at most national drug stores. In the past, almost all of the advertising for Essential-Beauty has been in women's fashion magazines.
The firm is now launching a new line of skin care products, ranging from facial cleansers to body lotion. These products are designed to be marketed to a broader audience, so the marketing team is exploring the effectiveness of different promotional mixes.
-Before deciding to launch the new line of products, Essential-Beauty conducted extensive market research to make sure the products were optimally positioned. A complete marketing plan including mobile advertising, magazine advertising, event sponsorship, and sales promotions was established long before the products themselves were ready for market. In this case, Essential-Beauty was using ________.

Accepted Answer

A)  cost leadership 
B)  entrepreneurial marketing 
C)  intrepreneurial marketing 
D)  formulated marketing 
E)  operational excellence 
A)  cost leadership 
B)  entrepreneurial marketing 
C)  intrepreneurial marketing 
D)  formulated marketing 
E)  operational excellence

Question 19

A company can protect its market share through all of the following EXCEPT ________.

Accepted Answer

A)  continuous innovation 
B)  attacking its competitors directly 
C)  preventing or fixing weaknesses 
D)  fulfilling its value promise to customers 
E)  pricing its products to be consistent with the customers' perceived value 
A)  continuous innovation 
B)  attacking its competitors directly 
C)  preventing or fixing weaknesses 
D)  fulfilling its value promise to customers 
E)  pricing its products to be consistent with the customers' perceived value

Question 20

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.

Accepted Answer

A)  target 
B)  focus 
C)  control 
D)  strategic 
E)  experimental 
A)  target 
B)  focus 
C)  control 
D)  strategic 
E)  experimental

The competitive intelligence system continuously collects information from the field through ________.

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

Companies can identify competitors from a(n) ________ 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.

Competitive exchanges such as comparison advertisements can provide useful information to consumers and advantages from brands. However, they also might reflect negatively on the entire industry.

Competitors may serve less-attractive segments or lead to more product differentiation.

________ involves first identifying and assessing competitors and then selecting which competitors to attack or avoid.

Kodak's film business didn't lose out to 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 ________.

Which of the following is the first step taken in the competitive intelligence system?

Most competitors in the music download industry see Apple's iTunes Music Store as a ________ because it created a closed system with mass appeal.

Whereas the mass marketer achieves , the nicher achieves .

When companies watch both their buyers and their competitors, they are called ________ companies.

To plan effective marketing strategies, the company must ignore its competitors.

A market nicher can most likely specialize along all of the following lines EXCEPT ________.

The market leader normally gains the most when ________.

To plan effective marketing strategies, a company needs to find out all it can about its competitors. It must constantly compare its marketing strategies, products, prices, channels, and promotions with those of close competitors. This is an example of ________.

A company can protect its market share through all of the following EXCEPT ________.

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.

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-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: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 18: Creating Competitive Advantage

The competitive intelligence system continuously collects information from the field through ________.

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

Companies can identify competitors from a(n) ________ 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.

Competitive exchanges such as comparison advertisements can provide useful information to consumers and advantages from brands. However, they also might reflect negatively on the entire industry.

Competitors may serve less-attractive segments or lead to more product differentiation.

________ involves first identifying and assessing competitors and then selecting which competitors to attack or avoid.

Kodak's film business didn't lose out to 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 ________.

Which of the following is the first step taken in the competitive intelligence system?

Most competitors in the music download industry see Apple's iTunes Music Store as a ________ because it created a closed system with mass appeal.

Whereas the mass marketer achieves ________, the nicher achieves ________.

When companies watch both their buyers and their competitors, they are called ________ companies.

To plan effective marketing strategies, the company must ignore its competitors.

A market nicher can most likely specialize along all of the following lines EXCEPT ________.

The market leader normally gains the most when ________.

To plan effective marketing strategies, a company needs to find out all it can about its competitors. It must constantly compare its marketing strategies, products, prices, channels, and promotions with those of close competitors. This is an example of ________.

A company can protect its market share through all of the following EXCEPT ________.

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.

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-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: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

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

Whereas the mass marketer achieves , the nicher achieves .