Question 1

The goal of performing a competitor analysis is to ________.

Accepted Answer

A)  learn more about the competitors' sales structures 
B)  find flaws in the competitors' manufacturing processes 
C)  copy the best features that the competitors offer 
D)  find areas of potential competitive advantage and disadvantage 
E)  develop products in markets that the competitors are not in 
A)  learn more about the competitors' sales structures 
B)  find flaws in the competitors' manufacturing processes 
C)  copy the best features that the competitors offer 
D)  find areas of potential competitive advantage and disadvantage 
E)  develop products in markets that the competitors are not in

Question 2

Samsung and Apple actively generate new ideas, relentlessly pursue new solutions, and quickly work to get new products to market. They serve customers who want state-of-the-art products and services, regardless of the costs in terms of price or inconvenience. Which of the following value disciplines is illustrated from this example?

Accepted Answer

A)  operational excellence 
B)  customer intimacy 
C)  product leadership 
D)  product activation 
E)  product binning 
A)  operational excellence 
B)  customer intimacy 
C)  product leadership 
D)  product activation 
E)  product binning

Question 3

American Express will do almost anything to build long-term customer loyalty and to capture customer lifetime value. Which of the following competitive marketing strategies is being pursued by American Express?

Accepted Answer

A)  consumer capitalism 
B)  customer equity 
C)  product differentiation 
D)  product leadership 
E)  customer intimacy 
A)  consumer capitalism 
B)  customer equity 
C)  product differentiation 
D)  product leadership 
E)  customer intimacy

Question 4

Discuss why a company really needs and benefits from competitors.

Accepted Answer

The existence of competitors results in

Question 5

The competitive intelligence system of a company supplies key information to relevant decision makers about the company's competitors.

Accepted Answer

A) True 
 B)False

Question 6

A company that pursues ________ will react much more strongly to a competitor's cost reducing manufacturing breakthrough than to the same competitor's advertising increase.

Accepted Answer

A)  product differentiation 
B)  low-cost leadership 
C)  customer intimacy 
D)  a middle-of-the-roaders strategy 
E)  product leadership 
A)  product differentiation 
B)  low-cost leadership 
C)  customer intimacy 
D)  a middle-of-the-roaders strategy 
E)  product leadership

Question 7

Most of the market is in the hands of the ________, the firm with the largest market share.

Accepted Answer

A)  market challenger 
B)  market follower 
C)  market leader 
D)  market nicher 
E)  market maven 
A)  market challenger 
B)  market follower 
C)  market leader 
D)  market nicher 
E)  market maven

Question 8

Many large and mature companies get stuck in formulated marketing. They pore over the latest Nielsen numbers, scan market research reports, and try to fine-tune their competitive strategies and programs.

Accepted Answer

A) True 
 B)False

Question 9

Although it might seem that the market leader has the most going for it, challengers often have what some strategists call a(n) ________. The challenger observes what has made the leader successful and improves upon it.

Accepted Answer

A)  "marketing myopia" 
B)  "second mover advantage" 
C)  "absolute advantage" 
D)  "blue ocean strategy" 
E)  "red ocean strategy" 
A)  "marketing myopia" 
B)  "second mover advantage" 
C)  "absolute advantage" 
D)  "blue ocean strategy" 
E)  "red ocean strategy"

Question 10

What is most likely a strategic benefit of the existence of competitors?

Accepted Answer

A)  Competitors seldom lead to product differentiation. 
B)  Competitors help legitimize new technologies. 
C)  Competitors exclusively serve more-attractive segments. 
D)  Competitors fracture the target market. 
E)  Competitors decrease the total demand. 
A)  Competitors seldom lead to product differentiation. 
B)  Competitors help legitimize new technologies. 
C)  Competitors exclusively serve more-attractive segments. 
D)  Competitors fracture the target market. 
E)  Competitors decrease the total demand.

Question 11

Although competition is most intense within a strategic group, explain why there is also rivalry among groups. Give examples.

Accepted Answer

First, some of the strategic groups may

Question 12

What is the LEAST relevant question to ask when assessing a firm's main competitor?

Accepted Answer

A)  What are the competitor's objectives? 
B)  What is the competitor's strategy? 
C)  What are the competitor's strengths? 
D)  What are the competitor's locations? 
E)  What are the competitor's weaknesses? 
A)  What are the competitor's objectives? 
B)  What is the competitor's strategy? 
C)  What are the competitor's strengths? 
D)  What are the competitor's locations? 
E)  What are the competitor's weaknesses?

Question 13

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

Accepted Answer

In order to prepare an effective marketi

Question 14

Give examples of competitor objectives and discuss the importance of knowing a competitor's mix of objectives.

Accepted Answer

Each competitor has a mix of objectives.

Question 15

A competitive analysis involves first identifying and assessing competitors and then selecting which competitors to attack or avoid.

Accepted Answer

A) True 
 B)False

Question 16

Why is niching profitable?

Accepted Answer

The main reason a market nicher can succ

Question 17

Market challengers can grow by further increasing their market shares.

Accepted Answer

A) True 
 B)False

Question 18

Cozy Country Market entered the candle business with a unique product: a line of candles made from soy that produces less smoke and lasts up to twice as long as other candles. The firm sold this unique product exclusively to a few niches. The candles were priced at twice the cost charged for normal candles. The product was also sold online and in unconventional outlets not dominated by market leaders. In this case, Cozy Country Market was using a(n) ________ against the market leaders.

Accepted Answer

A)  preemptive attack 
B)  guerrilla attack 
C)  counter offensive attack 
D)  indirect attack 
E)  frontal attack 
A)  preemptive attack 
B)  guerrilla attack 
C)  counter offensive attack 
D)  indirect attack 
E)  frontal attack

Question 19

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

Accepted Answer

A customer-centered company focuses more

Question 20

Which of the following conditions would enable higher market share to produce higher profits?

Accepted Answer

A)  when unit costs drop as market share increases 
B)  when unit costs increase as market share increases 
C)  when production volume drops as market share increases 
D)  when production volume remains unaltered as market share increases 
E)  when the company fails to break even 
A)  when unit costs drop as market share increases 
B)  when unit costs increase as market share increases 
C)  when production volume drops as market share increases 
D)  when production volume remains unaltered as market share increases 
E)  when the company fails to break even

The goal of performing a competitor analysis is to ________.

American Express will do almost anything to build long-term customer loyalty and to capture customer lifetime value. Which of the following competitive marketing strategies is being pursued by American Express?

Discuss why a company really needs and benefits from competitors.

The competitive intelligence system of a company supplies key information to relevant decision makers about the company's competitors.

A company that pursues ________ will react much more strongly to a competitor's cost reducing manufacturing breakthrough than to the same competitor's advertising increase.

Most of the market is in the hands of the ________, the firm with the largest market share.

Many large and mature companies get stuck in formulated marketing. They pore over the latest Nielsen numbers, scan market research reports, and try to fine-tune their competitive strategies and programs.

Although it might seem that the market leader has the most going for it, challengers often have what some strategists call a(n) ________. The challenger observes what has made the leader successful and improves upon it.

What is most likely a strategic benefit of the existence of competitors?

Although competition is most intense within a strategic group, explain why there is also rivalry among groups. Give examples.

What is the LEAST relevant question to ask when assessing a firm's main competitor?

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

Give examples of competitor objectives and discuss the importance of knowing a competitor's mix of objectives.

A competitive analysis involves first identifying and assessing competitors and then selecting which competitors to attack or avoid.

Why is niching profitable?

Market challengers can grow by further increasing their market shares.

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

Which of the following conditions would enable higher market share to produce higher profits?

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 goal of performing a competitor analysis is to ________.

American Express will do almost anything to build long-term customer loyalty and to capture customer lifetime value. Which of the following competitive marketing strategies is being pursued by American Express?

Discuss why a company really needs and benefits from competitors.

The competitive intelligence system of a company supplies key information to relevant decision makers about the company's competitors.

A company that pursues ________ will react much more strongly to a competitor's cost reducing manufacturing breakthrough than to the same competitor's advertising increase.

Most of the market is in the hands of the ________, the firm with the largest market share.

Many large and mature companies get stuck in formulated marketing. They pore over the latest Nielsen numbers, scan market research reports, and try to fine-tune their competitive strategies and programs.

Although it might seem that the market leader has the most going for it, challengers often have what some strategists call a(n) ________. The challenger observes what has made the leader successful and improves upon it.

What is most likely a strategic benefit of the existence of competitors?

Although competition is most intense within a strategic group, explain why there is also rivalry among groups. Give examples.

What is the LEAST relevant question to ask when assessing a firm's main competitor?

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

Give examples of competitor objectives and discuss the importance of knowing a competitor's mix of objectives.

A competitive analysis involves first identifying and assessing competitors and then selecting which competitors to attack or avoid.

Why is niching profitable?

Market challengers can grow by further increasing their market shares.

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

Which of the following conditions would enable higher market share to produce higher profits?

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