Question 1

The "best defense is a good offense" would be a policy under which of the following market leader defensive strategies?

Accepted Answer

A)  preemptive defense 
B)  position defense 
C)  contraction defense 
D)  flank defense 
E)  lateral defense 
A)  preemptive defense 
B)  position defense 
C)  contraction defense 
D)  flank defense 
E)  lateral defense

Question 2

In which of the following viable attack strategies that can be employed by a market challenger does the attacker match its opponent's product, advertising, price, and distribution?

Accepted Answer

A)  flank attack 
B)  guerilla warfare 
C)  counteroffensive attack 
D)  frontal attack 
E)  bypass attack 
A)  flank attack 
B)  guerilla warfare 
C)  counteroffensive attack 
D)  frontal attack 
E)  bypass attack

Question 3

Once a company has identified its main competitors and their strategies, it must next ask:

Accepted Answer

A)  What are competitors seeking? 
B)  What are the competitive brand attributes? 
C)  What are the subtle market entrance requirements? 
D)  What is the attrition rate in the market? 
E)  What are the competitive promotion schemes? 
A)  What are competitors seeking? 
B)  What are the competitive brand attributes? 
C)  What are the subtle market entrance requirements? 
D)  What is the attrition rate in the market? 
E)  What are the competitive promotion schemes?

Question 4

Which of the following marketing strategies requires either identifying additional opportunities to use the brand in the same basic way or identifying completely new and different ways to use the brand?

Accepted Answer

A)  increasing the amount of consumption 
B)  increasing the level of consumption 
C)  increasing frequency of consumption 
D)  increase the impulsiveness of consumption 
E)  increasing product innovation 
A)  increasing the amount of consumption 
B)  increasing the level of consumption 
C)  increasing frequency of consumption 
D)  increase the impulsiveness of consumption 
E)  increasing product innovation

Question 5

Michael Porter has identified five forces that determine the intrinsic long-run attractiveness of a market or market segment. Briefly, list and characterize those forces.

Accepted Answer

Porter's five forces are:(1)threat of in

Question 6

In general, a market leader will have about ________ of the total market in relation to other competitors.

Accepted Answer

A)  40 percent 
B)  75 percent 
C)  60 percent 
D)  50 percent 
E)  30 percent 
A)  40 percent 
B)  75 percent 
C)  60 percent 
D)  50 percent 
E)  30 percent

Question 7

An alternative to being a follower in a large market is to be a leader in a small market or niche. Explain how a market nicher, even with low shares of the total market, can be highly profitable through smart niching.

Accepted Answer

Such companies tend to offer high value,

Question 8

Market leaders are constantly under attack from large and small competitors alike. What is the most constructive response a market leader can make when defending its terrain?

Accepted Answer

A)  continuous innovation 
B)  meet all challengers with a swift response 
C)  basic cost control 
D)  expanding expected benefits 
E)  expanding desired benefits 
A)  continuous innovation 
B)  meet all challengers with a swift response 
C)  basic cost control 
D)  expanding expected benefits 
E)  expanding desired benefits

Question 9

In mobile defense, market broadening shifts the company's focus into unrelated industries.

Accepted Answer

A) True 
 B)False

Question 10

The most attractive segment is one in which the entry barriers are low and exit barriers are high.

Accepted Answer

A) True 
 B)False

Question 11

Single niching is preferable to multiple niching because a firm should "stick to its niche".

Accepted Answer

A) True 
 B)False

Question 12

As specific-customerspecialist, the frim concentrates on either small, medium-sized, or large customers.

Accepted Answer

A) True 
 B)False

Question 13

What is the criticism of the product life-cycle concept?

Accepted Answer

The product life-cycle theory has its sh

Question 14

Describe a counterfeiter as a market-follower.

Accepted Answer

A counterfeiter duplicates the leader's

Question 15

Explain how luxury brands can benefit during an economic recession from having lower-priced brands or sub-brands in their portfolio.

Accepted Answer

They can review product portfolios and b

Question 16

As a marketing manager, you have decided to pursue new customers with your established products. Specifically, the new customers that you want are those who might use the product but do not at present. Which of the following strategies is recommended to pursue such a customer market?

Accepted Answer

A)  new-market segment strategy 
B)  consolidation strategy 
C)  market-penetration strategy 
D)  geographical-expansion strategy 
E)  needs-assessment strategy 
A)  new-market segment strategy 
B)  consolidation strategy 
C)  market-penetration strategy 
D)  geographical-expansion strategy 
E)  needs-assessment strategy

Question 17

To counter value-based players, it will be necessary to focus on areas where their business models give other companies room to maneuver. For example, instead of directly competing with Walmart and other retailers, Shoppers Drug Mart emphasizes convenience, selection, and expert advice. Which of the following general strategies is Shoppers rug Mart using as its main competitive focus?

Accepted Answer

A)  differentiation 
B)  execution 
C)  cost leadership 
D)  vertical integration 
E)  implementation 
A)  differentiation 
B)  execution 
C)  cost leadership 
D)  vertical integration 
E)  implementation

Question 18

________ defense involves occupying the most desirable market space in the minds of the consumers, making the brand almost impregnable.

Accepted Answer

A)  Position 
B)  Mobile 
C)  Flank 
D)  Contraction 
E)  Preemptive 
A)  Position 
B)  Mobile 
C)  Flank 
D)  Contraction 
E)  Preemptive

Question 19

A marketing manager has planned a strategy that will require that the organization erect outposts to protect its weak front-running brands. Because these outposts will be central to the organization's new competitive strategy, we can say that a ________ defense is being used.

Accepted Answer

A)  position 
B)  preemptive 
C)  flank 
D)  counteroffensive 
E)  mobile 
A)  position 
B)  preemptive 
C)  flank 
D)  counteroffensive 
E)  mobile

Question 20

What is a guerilla attack?

Accepted Answer

Guerrilla attacks consist of small,inter

Exam 11: Competitive Dynamics

The "best defense is a good offense" would be a policy under which of the following market leader defensive strategies?

In which of the following viable attack strategies that can be employed by a market challenger does the attacker match its opponent's product, advertising, price, and distribution?

Once a company has identified its main competitors and their strategies, it must next ask:

Which of the following marketing strategies requires either identifying additional opportunities to use the brand in the same basic way or identifying completely new and different ways to use the brand?

Michael Porter has identified five forces that determine the intrinsic long-run attractiveness of a market or market segment. Briefly, list and characterize those forces.

In general, a market leader will have about ________ of the total market in relation to other competitors.

An alternative to being a follower in a large market is to be a leader in a small market or niche. Explain how a market nicher, even with low shares of the total market, can be highly profitable through smart niching.

Market leaders are constantly under attack from large and small competitors alike. What is the most constructive response a market leader can make when defending its terrain?

In mobile defense, market broadening shifts the company's focus into unrelated industries.

The most attractive segment is one in which the entry barriers are low and exit barriers are high.

Single niching is preferable to multiple niching because a firm should "stick to its niche".

As specific-customerspecialist, the frim concentrates on either small, medium-sized, or large customers.

What is the criticism of the product life-cycle concept?

Describe a counterfeiter as a market-follower.

Explain how luxury brands can benefit during an economic recession from having lower-priced brands or sub-brands in their portfolio.

As a marketing manager, you have decided to pursue new customers with your established products. Specifically, the new customers that you want are those who might use the product but do not at present. Which of the following strategies is recommended to pursue such a customer market?

________ defense involves occupying the most desirable market space in the minds of the consumers, making the brand almost impregnable.

A marketing manager has planned a strategy that will require that the organization erect outposts to protect its weak front-running brands. Because these outposts will be central to the organization's new competitive strategy, we can say that a ________ defense is being used.

What is a guerilla attack?

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Position

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Introducing New Marketing Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization

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