Exam 18: Creating Competitive Advantage

Use a scenario to discuss why a company may want to avoid destroying a close competitor.

Name the three value disciplines.Why do firms establish them?

A company really needs and benefits from competitors.

Service nichers sell only in a certain locality,region,or area of the world.

Robin's company uses secondary data,personal experience,benchmarking,and word of mouth to ________.

Lexus,American Express,British Airways,and Ritz-Carlton Hotels will do almost anything to build long-term customer loyalty and to capture customer lifetime value.These companies are pursuing which of the following competitive marketing strategies?

When a company provides superior value by leading its industry in price and convenience,it has obtained what is called ________.

Explain how Kodak had "competitor myopia."

Companies that pursue a clear strategy will likely perform well.Firms that do not pursue a clear strategy are called ________.

The market challenger may launch a full ________,matching the competitor's product,advertising,price,and distribution efforts.It attacks the competitor's strengths rather than its weaknesses.

Bob's boss criticized him for having ________.His boss believes this because Bob forgets about latent competitors and only focuses on current competitors.

Business-to-business marketers find it hard to estimate competitors' market shares because they do not have the same syndicated data services that are available to consumer packaged-goods companies.

Being a smaller underdog can sometimes help a company.For example,knowing how major competitors react gives the company clues on how best to ________ competitors or how best to ________ the company's current positions.

Computer mouse and interface device maker Logitech is only a fraction the size of giant Microsoft.Yet through skillful ________,it dominates the PC mouse market,with Microsoft as its runner-up.

The implication suggested by strategic actions of "good competitor companies" is that they would like to shape an industry that consists of ________.

The best response to competitive threats is ________.

Logitech has a depth of focus and knowledge that no other company in the world-including Microsoft-can match.

The market niche may dry up,or it might grow to the point that it attracts larger competitors.That is why many companies practise ________.

Gary Hirshberg started the Stonyfield Farm yogurt company.His marketing strategy: building a strong connection with customers using guerrilla marketing.This is an example of formulated marketing.

Higher shares tend to produce higher profits only when ________ fall with increased market share.