Exam 6: Understanding Competitors: Analysis to Action

_____________________ is an essential tool in creating customer value.

Joannie is primarily using the Internet to research her competitors.Thus far she has found over 100 pages of information about her competitor.She told her partner, Georgette, that they needed to understand every piece of information, as it is all of value.Georgette disagrees.What do you think?

In _________________, competitors operating in closely related markets expand into new markets to compete more directly.

Christo Enterprises just hired new a CEO, Yvonne.Previously Yvonne worked as CEO for a competitor that was known for cutting costs and redirecting the company focus on core business.Yvonne will probably ____________ at Christo Enterprises.

When a company creates a new market by understanding its competitors and listening to the market, it is called __________________.

Two companies split the market for airport taxis.Recently executives from the two companies have begun to discuss the possibility of merging their two companies into one.What may cause a major roadblock for the merger?

The government cannot provide you with any useful information related to your competitors.

Over time, most companies develop a _______________.This _______________ is affected by and, in turn, influences the company culture.

Alton's major competitor has recently hired a new CEO.He knows that when new CEOs come in, they usually start to alter some strategies in order to "put their stamp" on the organization.What can Alton do to get an idea of strategies his new rival may begin to implement at her new organization?

Trinity is a water purification company based in Memphis, Tennessee.Trinity has been trying to gauge the future strategies of its main competitor in order to decide what is happening to the market.Trinity needs to determine the competitor's tolerance for risk, attitude toward innovation, etc.What can Trinity do to evaluate these aspects of its competitor?

Walter's Pantry, a high-end grocery store, started offering gourmet made-to-eat meals for customers to take home for lunch or dinner.By doing this, Walter's Pantry expanded its indirect competitors to include ________________.

By studying competitors and implementing change, companies can create strategic advantages that help them to create a better market share.

Companies can set the benchmark in a new product area by developing _____________ that are transferable to the new market.

Harold used to sell his teas through multiple teahouses throughout the country.Recently he decided to open storefronts in popular malls to sell his tea directly to the customer.Harold's choice to sell directly to the customer is an example of __________________.

Javier owns a technology company that specializes in personalizing home spaces with wireless technologies.Javier focuses most of his business efforts towards research and development in order to create new innovations; his business investors call him a risk taker.This situation best describes Javier's _____________.

The difference between an oligopoly and monopolistic competition is in the number of companies operating in the industry.

When looking to purchase an item, customers consider products that __________________, not just products related to a particular industry.

Tasha owns a specialty baked goods store in San Francisco.She ships her products all over the world.Recently she has begun to look more closely at her competitors in order to conduct a useful competitor analysis.Her analysis has caused her to look more closely at Baked Beauties, and particularly at the CEO, Meghan.Why should Tasha look more closely at Meghan in particular? What else should Tasha look at in order to complete her competitor analysis?

Samantha Wilson, Marketing Manager for CHEP U.S.A., described CHEP's direct competitors as other organizations that have similar resources, but pointed out that CHEP's competitive advantages are _________________.