Exam 18: Creating Competitive Advantage

A market challenger that matches the competitor's product, advertising, price, and distribution efforts is most likely ________.

When companies serve customers who are willing to pay a premium to get precisely what they want and the company responds quickly to satisfy these customers' needs, the company has achieved ________.

Discuss the functions and goals of a competitive intelligence system.

Discuss the steps in analyzing competitors.

Fifty percent of the market is in the hands of Company A, 30 percent is in the hands of Company B, 15 percent is in the hands of Company C, and the remaining 5 percent is in the hands of Company D. Based on these hypothetical numbers, Company B is the market ________.

Fifty percent of the market is in the hands of Company A, 30 percent is in the hands of Company B, 15 percent is in the hands of Company C, and the remaining 5 percent is in the hands of Company D. Based on these hypothetical numbers, Company D is the market ________.

Each competitor has a mix of objectives. The company wants to know the relative importance that a competitor places on all of the following EXCEPT ________.

Walmart, Costco, and Southwest Airlines serve customers who want reliable, good-quality products or services that are also reasonable and easily available. These companies are all known for pursuing a value discipline known as ________.

Firms that serve small segments not being pursued by other firms are called ________.

Benchmarking involves comparing the firm's products and processes to those of the competitors to identify best practices to improve quality and performance.

In the context of identifying competitors' strategies, the more that one firm's strategy resembles another firm's strategy, the more likely the two firms are to ________.

Discuss the different levels at which competitors can be identified.

Which is NOT one of the four orientations a company may have?

If a company identifies its competitors from an industry point of view, it must understand ________ if it hopes to be an effective player in that industry.

A product-oriented company focuses on ________.

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

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

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

Which of the following statements is true of the approaches to marketing strategy?

What are the stages that the approaches to marketing strategy and practice usually pass through?