Exam 18: Creating Competitive Advantage

If a company is a market leader in one category, and a market challenger or market nicher in other categories, it will follow ________ strategies for each category.

A company's objectives indicate its satisfaction with its current situation and ________.

At the narrowest level, a company can define its competitors as other companies offering similar products and services to the same customers at similar prices.

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.

A competitor analysis requires the assessment of all of the following EXCEPT the competitors' ________.

Discuss two ways a market challenger can best attack the chosen competitor and achieve its strategic objectives. Explain when a challenger should use these attacks and provide examples of companies that have used these methods.

Explain how the United States Postal Service has "competitor myopia."

Customers see competitive advantages as customer advantages.

Country Kitchen and Perkins are both a chain of family restaurants featuring diner-like menus with reasonably priced items. These companies are in the same ________.

An example of a company exhibiting a blue ocean strategy is ________.

Which of the following are value discipline strategies?

Market leaders can expand the market by ________ and more usage of the product.

Many approaches to developing effective competitive marketing strategies exist. There may be ________ between the formulated side of marketing and the creative side, as creativity and passion help build and maintain success.

Porsche is a German automobile manufacturer that competes against BMW and Audi, but only in the sports car and SUV segments of the automobile market. Porsche utilizes a(n) ________ strategy.

Discuss the four evolving company orientations. Which orientation is considered most successful and why?

Which of the following is most critical for successful niching?

Bosch is a German firm that manufactures home appliances such as dishwashers, ovens, and ranges. It competes with companies such as GE Elite and LG. Bosch is perceived as the class of the industry. Bosch pursues a(n) ________ strategy.

________ is the process of comparing the company's products and processes to those of competitors or leading firms in other industries to find ways to improve quality and performance.

Which of the following is a market leader strategy?

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.