Question 1

Nichers have three tasks: creating niches, ________, and protecting niches.

Accepted Answer

A)  cloning niches 
B)  attacking niches 
C)  expanding niches 
D)  specialization 
E)  guerilla warfare 
A)  cloning niches 
B)  attacking niches 
C)  expanding niches 
D)  specialization 
E)  guerilla warfare

Question 2

The encirclement attack by a market challenger consists of waging small, intermittent attacks to harass and demoralize the opponent and eventually secure permanent footholds.

Accepted Answer

A) True 
 B)False

Question 3

The first step that a market challenger must take in establishing its stance against competitors is to define its strategic objective.

Accepted Answer

A) True 
 B)False

Question 4

Walmart is perhaps one of the best illustrations of the threat of ________ found in Porter's model.

Accepted Answer

A)  intense segment rivalry 
B)  suppliers' growing bargaining power 
C)  buyers' growing bargaining power 
D)  substitute products 
E)  new entrants 
A)  intense segment rivalry 
B)  suppliers' growing bargaining power 
C)  buyers' growing bargaining power 
D)  substitute products 
E)  new entrants

Question 5

An alternate way to increase sales volume is to expand the number of users. This can be done by ________.

Accepted Answer

A)  having consumers use the product on more occasions 
B)  attracting competitors' customers 
C)  having consumers use more of the product on each occasion 
D)  having consumers use the product in new ways 
E)  remaining in the current market segment 
A)  having consumers use the product on more occasions 
B)  attracting competitors' customers 
C)  having consumers use more of the product on each occasion 
D)  having consumers use the product in new ways 
E)  remaining in the current market segment

Question 6

________ become market leaders through superior value delivery of unmet and maybe even unknown consumer needs.

Accepted Answer

A)  Creative marketers 
B)  Anticipative marketers 
C)  Reactive marketers 
D)  Market-driving firms 
E)  Responsive marketers 
A)  Creative marketers 
B)  Anticipative marketers 
C)  Reactive marketers 
D)  Market-driving firms 
E)  Responsive marketers

Question 7

If your company was labeled as an imitator (market follower), what would your primary strategies for meeting competition be?

Accepted Answer

According to information provided in the

Question 8

As one of the market follower strategies, counterfeiting duplicates the leader's product and package and sells it on the black market or through disreputable dealers.

Accepted Answer

A) True 
 B)False

Question 9

Harvey's is a market challenger in the highly competitive fast-food marketplace. Harvey's adopted a ________ in order to occupy a different space from the healthy food bandwagon.

Accepted Answer

A)  frontal attack 
B)  mobile attack 
C)  encirclement attack 
D)  bypass attack 
E)  flank attack 
A)  frontal attack 
B)  mobile attack 
C)  encirclement attack 
D)  bypass attack 
E)  flank attack

Question 10

According to information provided in Michael Porter's model that describes segment structural attractiveness, the suppliers' growing bargaining power is a real threat. How can oil companies such as Petro-Canada and Shell best defend against such a threat?

Accepted Answer

The best defenses to this thre

Question 11

A market challenger must decide who to attack. Which of the following is a high-risk but potentially high-payoff strategy?

Accepted Answer

A)  It can attack the market leader. 
B)  It can attack small local firms. 
C)  It can attack firms its own size that are underfinanced. 
D)  It can attack firms its own size that are not doing the job. 
E)  It can attack a global conglomerate that is market hungry. 
A)  It can attack the market leader. 
B)  It can attack small local firms. 
C)  It can attack firms its own size that are underfinanced. 
D)  It can attack firms its own size that are not doing the job. 
E)  It can attack a global conglomerate that is market hungry.

Question 12

As a market follower, you have been labeled as a counterfeiter. Characterize your label.

Accepted Answer

The counterfeiter duplicates t

Question 13

An industry is a group of firms that offer a product or class of products that are close substitutes for one another.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following best describes Theodore Levitt's suggestion?

Accepted Answer

A)  Imitation is wrong and should be punished. 
B)  Innovation is not possible without substantial imitation. 
C)  Product imitation might be as profitable as a strategy of product innovation. 
D)  Innovation cannot begin unless dissatisfaction with imitation occurs. 
E)  Imitation should be against the law because of the intellectual property decision involved. 
A)  Imitation is wrong and should be punished. 
B)  Innovation is not possible without substantial imitation. 
C)  Product imitation might be as profitable as a strategy of product innovation. 
D)  Innovation cannot begin unless dissatisfaction with imitation occurs. 
E)  Imitation should be against the law because of the intellectual property decision involved.

Question 15

If a market leader follows a strategy of continuous innovation, it keeps increasing its competitive strength and value to its customers.

Accepted Answer

A) True 
 B)False

Question 16

________ is a distribution strategy that can be effectively used during the growth stage of the product life cycle.

Accepted Answer

A)  Building product awareness 
B)  Phasing out unprofitable outlets 
C)  Building selective distribution 
D)  Increase distribution coverage 
E)  Stressing on brand differences 
A)  Building product awareness 
B)  Phasing out unprofitable outlets 
C)  Building selective distribution 
D)  Increase distribution coverage 
E)  Stressing on brand differences

Question 17

A recession provides an opportunity for marketers to closely review how mch and in what ways they are spending their momey.

Accepted Answer

A) True 
 B)False

Question 18

Not any aspect of the marketing program can server as the basis for attack, such as a wider variety of offerings.

Accepted Answer

A) True 
 B)False

Question 19

A market challenger strategist must carefully consider all attack options before moving forwards. If the strategist chooses the ________ approach, selective price cuts, intense promotional blitzes, and occasional legal action will probably be commonplace in the strategic design.

Accepted Answer

A)  frontal attack 
B)  encirclement attack 
C)  flank attack 
D)  guerilla attack 
E)  bypass attack 
A)  frontal attack 
B)  encirclement attack 
C)  flank attack 
D)  guerilla attack 
E)  bypass attack

Question 20

As a market follower strategy, the ________ duplicates the leader's product and packages and sells it on the black market or through disreputable dealers.

Accepted Answer

A)  counterfeiter 
B)  innovator 
C)  cloner 
D)  imitator 
E)  adapter 
A)  counterfeiter 
B)  innovator 
C)  cloner 
D)  imitator 
E)  adapter

Exam 11: Competitive Dynamics

Nichers have three tasks: creating niches, ________, and protecting niches.

The encirclement attack by a market challenger consists of waging small, intermittent attacks to harass and demoralize the opponent and eventually secure permanent footholds.

The first step that a market challenger must take in establishing its stance against competitors is to define its strategic objective.

Walmart is perhaps one of the best illustrations of the threat of ________ found in Porter's model.

An alternate way to increase sales volume is to expand the number of users. This can be done by ________.

________ become market leaders through superior value delivery of unmet and maybe even unknown consumer needs.

If your company was labeled as an imitator (market follower), what would your primary strategies for meeting competition be?

As one of the market follower strategies, counterfeiting duplicates the leader's product and package and sells it on the black market or through disreputable dealers.

Harvey's is a market challenger in the highly competitive fast-food marketplace. Harvey's adopted a ________ in order to occupy a different space from the healthy food bandwagon.

According to information provided in Michael Porter's model that describes segment structural attractiveness, the suppliers' growing bargaining power is a real threat. How can oil companies such as Petro-Canada and Shell best defend against such a threat?

A market challenger must decide who to attack. Which of the following is a high-risk but potentially high-payoff strategy?

As a market follower, you have been labeled as a counterfeiter. Characterize your label.

An industry is a group of firms that offer a product or class of products that are close substitutes for one another.

Which of the following best describes Theodore Levitt's suggestion?

If a market leader follows a strategy of continuous innovation, it keeps increasing its competitive strength and value to its customers.

________ is a distribution strategy that can be effectively used during the growth stage of the product life cycle.

A recession provides an opportunity for marketers to closely review how mch and in what ways they are spending their momey.

Not any aspect of the marketing program can server as the basis for attack, such as a wider variety of offerings.

A market challenger strategist must carefully consider all attack options before moving forwards. If the strategist chooses the ________ approach, selective price cuts, intense promotional blitzes, and occasional legal action will probably be commonplace in the strategic design.

As a market follower strategy, the ________ duplicates the leader's product and packages and sells it on the black market or through disreputable dealers.

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

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