Exam 18: Creating Competitive Advantage

Which of the following does NOT apply to a customer-centered company?

If a company's aim is to make its own and competing products obsolete and serve customers who want state-of-the-art products and services, it is using a value discipline called ________.

Benchmarking has become a powerful tool for increasing a company's ________.

Market niching is profitable because the company ________.

From a market point of view, Universal Pictures film studio might see its competition as ________.

________ can adopt one of two competitive strategies: they can challenge the leader or they can play along with competitors and not rock the boat.

Compare and contrast the four competitive positions that are often used to describe market structures.

How can companies learn about their competitors' strengths and weaknesses?

Companies in competition within a strategic group do not compete with other strategic groups.

Sears and Holiday Inn encountered difficult times because they did not stand out as the lowest in cost, highest in perceived value, or best in service of their primary target market segment. Both companies are ________.

A company's close competitors are ________.

A company is guilty of ________ if the company forgets latent competitors and only focuses on current competitors.

A market research firm conducts a survey of soft-drink consumers to assess Pepsi's and Coke's strengths and weaknesses in attributes valued by both company's target customers. The market research firm is using a ________.

Which of the following statements is most likely true of market follower strategies?

A company that focuses on customer developments in designing its marketing strategies and on delivering superior value to its target customers is a ________ company.

Dell produces and delivers PCs of competitive quality at lower costs. The company constantly aims to achieve low production and distribution costs to win a large market share. Dell utilizes a(n) ________ strategy very effectively.

The market subsegment that a company exclusively caters to may dry up, or it might grow to the point that it attracts larger competitors. This is why such companies practice ________.

Gary Hirshberg started the Stonyfield Farm yogurt company. His marketing strategy: building a casual bond with customers using guerilla marketing. This is an example of formulated marketing.

A market-centered company most likely has a stronger competitor and customer focus than a customer-centered company.

Marketers need an in-depth understanding of ________ if they want to anticipate how that competitor will act.