Question 1

A broader set of actual and potential competitors is revealed by embracing the ________ concept of competition.

Accepted Answer

A)  vertical 
B)  barrier 
C)  global 
D)  industry 
E)  market 
A)  vertical 
B)  barrier 
C)  global 
D)  industry 
E)  market

Question 2

A segment is unattractive when there are actual or potential ________ for the product.

Accepted Answer

A)  competitors 
B)  unclear demand 
C)  substitutes 
D)  profit fluctuation 
E)  contenders 
A)  competitors 
B)  unclear demand 
C)  substitutes 
D)  profit fluctuation 
E)  contenders

Question 3

Coca-Cola focused on its soft-drink business, missed seeing the market for coffee bars and fresh fruit-juice bars. This is an example of

Accepted Answer

A)  growing bargaining power 
B)  missed opportunities 
C)  category leadership 
D)  marketing myopia 
E)  emerging giants 
A)  growing bargaining power 
B)  missed opportunities 
C)  category leadership 
D)  marketing myopia 
E)  emerging giants

Question 4

In a pure ________ attack, the attacker matches its opponent's product, advertising, price, and distribution.

Accepted Answer

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

Question 5

Starbucks has a multi-pronged approach to growth. The fact that it operates in 44 different countries is reflective of its geographical-expansion strategy, and the fact that Starbucks sells whole-bean coffees in supermarkets is reflect of its

Accepted Answer

A)  market-penetration strategy. 
B)  market-diversification strategy. 
C)  product innovation strategy. 
D)  new-market-segment strategy. 
E)  market-development strategy. 
A)  market-penetration strategy. 
B)  market-diversification strategy. 
C)  product innovation strategy. 
D)  new-market-segment strategy. 
E)  market-development strategy.

Question 6

Which of the following would be the most likely threat that is associated with potential new entrants in Porter's segment structural attractiveness model?

Accepted Answer

A)  threat of response 
B)  threat of role reversal 
C)  threat of delayed action 
D)  threat of mobility 
E)  threat of positioning 
A)  threat of response 
B)  threat of role reversal 
C)  threat of delayed action 
D)  threat of mobility 
E)  threat of positioning

Question 7

The market leader should consider several factors before pursuing increased market share. One of the chief factors for consideration is the effect of increased market share on actual and perceived quality.

Accepted Answer

A) True 
 B)False

Question 8

S&S Cycle is a market follower. Although it will not overtake the leader, how is it that S&S can still achieve high profits.

Accepted Answer

A strategy of product imitation might be

Question 9

President's Choice laundry detergent is packaged to look much like Tide, Procter & Gamble's famous brand. Which of the following market follower strategies is being employed by for the above market entries?

Accepted Answer

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

Question 10

How can we explore the upside of increasing investment during a recession?

Accepted Answer

The amount of investment isn't all that

Question 11

A group of firms following the same strategy in a given target market is called a ________.

Accepted Answer

A)  cabal 
B)  cartel 
C)  cooperative 
D)  informal alliance 
E)  strategic group 
A)  cabal 
B)  cartel 
C)  cooperative 
D)  informal alliance 
E)  strategic group

Question 12

Using the market approach, ________ are companies that satisfy the same customer need.

Accepted Answer

A)  entrepreneurs 
B)  partners 
C)  innovators 
D)  followers 
E)  competitors 
A)  entrepreneurs 
B)  partners 
C)  innovators 
D)  followers 
E)  competitors

Question 13

When food product companies advertise recipes that use their branded products in entirely different ways, they are increasing the ________ of the brand.

Accepted Answer

A)  amount of consumption 
B)  frequency of consumption 
C)  level of consumption 
D)  dedication to consumption 
E)  awareness consumption 
A)  amount of consumption 
B)  frequency of consumption 
C)  level of consumption 
D)  dedication to consumption 
E)  awareness consumption

Question 14

A segment is unattractive if the company's suppliers are able to raise prices or reduce quantity supplied. Which of the following is the best illustration of the threat of suppliers' growing bargaining power?

Accepted Answer

A)  Sears unsuccessfully attempted to compete with Walmart and Kmart. 
B)  Oil companies must purchase a significant amount of their product from OPEC. 
C)  Walmart has almost no competitors in its market space. 
D)  The U.S. Post Office has merged package operations with FedEx. 
E)  McDonald's is the largest fast food franchise and is still growing. 
A)  Sears unsuccessfully attempted to compete with Walmart and Kmart. 
B)  Oil companies must purchase a significant amount of their product from OPEC. 
C)  Walmart has almost no competitors in its market space. 
D)  The U.S. Post Office has merged package operations with FedEx. 
E)  McDonald's is the largest fast food franchise and is still growing.

Question 15

Companies are all very similar in the emphasis they put on short-term versus long-term profits.

Accepted Answer

A) True 
 B)False

Question 16

How can Blue-Ocean thinking result in cost savings for companies that practise it?

Accepted Answer

A)  by diminishing quality to increase profit margins 
B)  by searching within the conventional boundaries of industry competition 
C)  by seeking head-to-head battles with competitors based largely on price 
D)  by eliminating and reducing the factors affecting traditional industry competition 
E)  by competing in occupied market positions with traditional value expectations 
A)  by diminishing quality to increase profit margins 
B)  by searching within the conventional boundaries of industry competition 
C)  by seeking head-to-head battles with competitors based largely on price 
D)  by eliminating and reducing the factors affecting traditional industry competition 
E)  by competing in occupied market positions with traditional value expectations

Question 17

What is a product-feature specialist?

Accepted Answer

As a product-feature specialist speciali

Question 18

Sony is an unusual market leader. It gives its customers new products that they have never even asked for (e.g., Walkmans, VCRs, video cameras, CDs). This makes Sony a(n) ________ firm.

Accepted Answer

A)  vision-driven 
B)  operations-driven 
C)  virtually-driven 
D)  market-driving 
E)  market-driven 
A)  vision-driven 
B)  operations-driven 
C)  virtually-driven 
D)  market-driving 
E)  market-driven

Question 19

A company needs to gather information about competitor's real strength and weaknesses only.

Accepted Answer

A) True 
 B)False

Question 20

A marketing manager of a market challenger-type organization has decided to "leapfrog" competition by moving into cutting-edge technologies. This indirect approach to attacking competition can be characterized as being what is called the

Accepted Answer

A)  guerrilla warfare. 
B)  frontal attack. 
C)  bypass attack. 
D)  flank attack. 
E)  encirclement attack. 
A)  guerrilla warfare. 
B)  frontal attack. 
C)  bypass attack. 
D)  flank attack. 
E)  encirclement attack.

Exam 11: Competitive Dynamics

A broader set of actual and potential competitors is revealed by embracing the ________ concept of competition.

A segment is unattractive when there are actual or potential ________ for the product.

Coca-Cola focused on its soft-drink business, missed seeing the market for coffee bars and fresh fruit-juice bars. This is an example of

In a pure ________ attack, the attacker matches its opponent's product, advertising, price, and distribution.

Starbucks has a multi-pronged approach to growth. The fact that it operates in 44 different countries is reflective of its geographical-expansion strategy, and the fact that Starbucks sells whole-bean coffees in supermarkets is reflect of its

Which of the following would be the most likely threat that is associated with potential new entrants in Porter's segment structural attractiveness model?

The market leader should consider several factors before pursuing increased market share. One of the chief factors for consideration is the effect of increased market share on actual and perceived quality.

S&S Cycle is a market follower. Although it will not overtake the leader, how is it that S&S can still achieve high profits.

President's Choice laundry detergent is packaged to look much like Tide, Procter & Gamble's famous brand. Which of the following market follower strategies is being employed by for the above market entries?

How can we explore the upside of increasing investment during a recession?

A group of firms following the same strategy in a given target market is called a ________.

Using the market approach, ________ are companies that satisfy the same customer need.

When food product companies advertise recipes that use their branded products in entirely different ways, they are increasing the ________ of the brand.

A segment is unattractive if the company's suppliers are able to raise prices or reduce quantity supplied. Which of the following is the best illustration of the threat of suppliers' growing bargaining power?

Companies are all very similar in the emphasis they put on short-term versus long-term profits.

How can Blue-Ocean thinking result in cost savings for companies that practise it?

What is a product-feature specialist?

Sony is an unusual market leader. It gives its customers new products that they have never even asked for (e.g., Walkmans, VCRs, video cameras, CDs). This makes Sony a(n) ________ firm.

A company needs to gather information about competitor's real strength and weaknesses only.

A marketing manager of a market challenger-type organization has decided to "leapfrog" competition by moving into cutting-edge technologies. This indirect approach to attacking competition can be characterized as being what is called the

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