Question 1

The goal of a "blue ocean strategy" is to make competition irrelevant.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is the best response a company can make to competitive threats?

Accepted Answer

A)  continuous innovation 
B)  surrender to the competitor 
C)  exit from the market 
D)  divestment 
E)  globalization 
A)  continuous innovation 
B)  surrender to the competitor 
C)  exit from the market 
D)  divestment 
E)  globalization

Question 3

Which of the following is a negative aspect of a competitor-centered company?

Accepted Answer

A)  It may end up simply matching industry practices. 
B)  It fails to identify competitors' weaknesses. 
C)  It becomes stable and unreactive. 
D)  It fails to notice weaknesses in its own position. 
E)  It fails to develop a fighter orientation. 
A)  It may end up simply matching industry practices. 
B)  It fails to identify competitors' weaknesses. 
C)  It becomes stable and unreactive. 
D)  It fails to notice weaknesses in its own position. 
E)  It fails to develop a fighter orientation.

Question 4

Marketing managers need a deep understanding of a given competitor's mentality if they want to anticipate how the competitor will act or react. Discuss the different ways competitors act or react. Why do they do so? Use examples to support your thoughts.

Accepted Answer

Student answers will vary. Each competit

Question 5

An industry often contains "good" and "bad" competitors. Good competitors ________.

Accepted Answer

A)  break the rules of fair competition 
B)  ensure minimum competition between firms 
C)  play by the rules of the industry 
D)  typically dominate the market 
E)  share their marketing strategies with other firms 
A)  break the rules of fair competition 
B)  ensure minimum competition between firms 
C)  play by the rules of the industry 
D)  typically dominate the market 
E)  share their marketing strategies with other firms

The goal of a "blue ocean strategy" is to make competition irrelevant.

Which of the following is the best response a company can make to competitive threats?

Which of the following is a negative aspect of a competitor-centered company?

Marketing managers need a deep understanding of a given competitor's mentality if they want to anticipate how the competitor will act or react. Discuss the different ways competitors act or react. Why do they do so? Use examples to support your thoughts.

An industry often contains "good" and "bad" competitors. Good competitors ________.

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 a "blue ocean strategy" is to make competition irrelevant.

Which of the following is the best response a company can make to competitive threats?

Which of the following is a negative aspect of a competitor-centered company?

Marketing managers need a deep understanding of a given competitor's mentality if they want to anticipate how the competitor will act or react. Discuss the different ways competitors act or react. Why do they do so? Use examples to support your thoughts.

An industry often contains "good" and "bad" competitors. Good competitors ________.

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