Exam 18: Creating Competitive Advantage

Market leaders can expand the market by ________,new uses,and more usage of the product.

Small companies sometimes succeed in the short run in spite of themselves.They make mistakes but not costly mistakes.Over time,these companies may do a better job scanning market research trying to fine-tune their competitive strategies and programs.These companies are moving toward more ________ marketing.

Nokia and Apple are open to new ideas,relentlessly pursue new solutions,and work to get new products to market quickly.They serve customers who want state-of-the-art products and services,regardless of the costs in terms of price or inconvenience.These companies are offering what value discipline?

A runner-up firm that wants to hold its share in an industry without rocking the boat is a ________.

An example of competitor myopia was when Fujifilm sales unsuspectingly surpassed those of Kodak.

________ can adopt one of two competitive strategies: they can challenge the leader or they can play along with competitors and not rock the boat

In the face of P&G's relentless assault,Unilever finally threw in the towel and recently put its detergents business up for sale.

The leading firm normally gains the most when the ________.

A negative side of the ________ is that the company becomes too reactive.Rather than carry out its own customer relationship strategy,it bases its own moves on competitors' moves.

A/an ________ point of view tends to be wider in scope than those that sell the same product to the same basic target.From this perspective,Binney & Smith,maker of Crayola crayons,would include competition from all firms making recreational and educational products for children rather than just other makers of crayons and children's drawing supplies.

A company can become so ________ centred that it loses its even more important focus on maintaining profitable ________ relationships.

Forty percent of the market is in the hands of Company A.Another 30 percent is in the hands of Company B.Twenty percent is in the hands of Company C,and the remaining 10 percent is in the hands of Company D.Based on these hypothetical numbers,Company D is the market ________.

One reason companies really need competitors is because competitors may help increase total demand.

Describe what a strategic group is,name a few companies that belong to the same strategic group,and discuss why they are in the same group.

Many firms avoid direct competition with Procter & Gamble and look for easier prey,knowing that Procter & Gamble will react fiercely if challenged.

Most companies tend to compete with distant competitors,who are those competitors most unlike them,rather than with close competitors.

Discuss the different levels at which competitors can be identified.

Almost every industry includes firms that specialize in serving target subsegments called ________.

Michael Porter suggests four basic competitive positioning strategies that companies can follow-three winning strategies and one losing one.Which of the following are considered winning strategies?

How can companies learn about their competitors strengths and weaknesses?