Exam 18: Creating Competitive Advantage

Although it might seem that the market leader has the most going for it,challengers often have what some strategists call a ________.The challenger observes what has made the leader successful and improves upon it.

At the narrowest level,a company can define its competitors as other companies offering similar products and services to the same customers at similar prices.

Sal's Bakery just opened its doors for business,bringing the number of bakeries in Colbert,Alberta,to two.The more that Sal's strategy resembles the other firm's strategy,the more the two firms _______

An example of a company exhibiting blue-ocean thinking is ________.

Discuss the two ways a market challenger can best attack the chosen competitor and achieve its strategic objectives.Explain when a challenger should use these attacks and provide examples of companies that have used these methods.

Most of the market is in the hands of the ________,the firm with the largest market share.

The key to successful niching is ________.

Discuss customer intimacy.Why is it important? Provide an example of a company that successfully abides by this value discipline.

FedEx is rare because it excels at more than one value discipline.

There are specific kinds of information that companies need to know about their competitors.The ________ system first identifies the vital types of competitive information and the best sources of this information.

While trying to expand total market size,the leading firm also must protect its current business against competitors' attacks.What can the market leader do to protect its position?

Most companies aim competition against ________.

Analysis conducted to determine what benefits target customers value and how they rate the relative value of various competitors' offers is known as ________.

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? You may use examples to support your thoughts.

Jennifer just hired Tony away from his job with her major competition.She did this,in part,so he might follow that competitor closely to see what it does in the marketplace.Tony is an example of a(n)________ expert.

Discuss why a company really needs and benefits from competitors.

Rather than challenging head-on,the challenger can make ________ on the competitor's weaknesses or on gaps in the competitor's market coverage.

Bill has just received a promotion within his company.As the western regional manager in charge of British Columbia,Alberta,Saskatchewan,and Manitoba,he wants to initiate a new competitive marketing strategy.He should start with ________.

A competitive analysis involves first identifying and assessing competitors and then selecting which competitors to attack or avoid.

Discuss the four evolving company orientations.Which orientation is considered most successful and why?