Question 1

A company with the reputation of being leader in innovation tends to be ______________.

Accepted Answer

A)  Internationally owned 
B)  A low risk taker 
C)  Focused only on its internal operations 
D)  A market leader in its industry 
E)  Too focused on research and less focused on getting products to the market

Question 2

The use of government quotas, import fees, and a host of other regulations are designed to encourage foreign competitors in a country.

Accepted Answer

A) True 
 B)False

Question 3

Larry has been working at Funk and Percy, a marketing firm in New York City.Larry has just been given a new client and is try to explain to the client why it is so important to find out what competition looks like through the customer's eyes.What would you say to help Larry explain this?

Accepted Answer

The answer of Larry has been working at Funk and...

Question 4

Typically, marketing managers have difficulty determining which competitors are direct competitors.

Accepted Answer

A) True 
 B)False

Question 5

The movement of raw materials into the manufacturing process and on to the final consumer links many companies through a complex logistics network and is known as the ____________.

Accepted Answer

A)  Materials procurement process 
B)  Manufacturing mix 
C)  Supply chain 
D)  Inventory management system 
E)  None of the above

Question 6

The merger between XM and Sirius Satellite Radios required approval from the Justice Department because it was argued that the merger would create a(n)___________.

Accepted Answer

A)  Market Space 
B)  Partnership 
C)  Monopoly 
D)  Oligopoly 
E)  Target market

Question 7

Monopolies differ from other market environments in that _____________.

Accepted Answer

A)  There is only a single company offering one set of products. 
B)  There are no direct competitors 
C)  They have powerful market positions, which can potentially harm consumers. 
D)  a & c 
E)  a, b & c

Question 8

Internet search engines can give you enormous amounts of both relevant and irrelevant information when researching competitors.One way to filter through the information is to use fee based search sites like ProQuest.

Accepted Answer

A) True 
 B)False

Question 9

A key question in any merger of two companies operating in the same basic market space is the definition of the market.

Accepted Answer

A) True 
 B)False

Question 10

Marketing manager for a world renowned auction house, Christine finds it hard to identify direct competitors from a(n)________________ perspective.

Accepted Answer

A)  National 
B)  Global 
C)  Stakeholder's 
D)  Customer's 
E)  Organizational

Question 11

In __________________, companies merge operations back up the supply chain away from the consumer.

Accepted Answer

A)  Production orientation 
B)  Selling orientation 
C)  Marketing orientation 
D)  Backward integration 
E)  Forward integration

Question 12

Edward is starting to research for his summer vacation next year.He is trying to decide between a trip to a theme park, a trip to another country or a cruise.All of Edward's options best describe a list of ______________.

Accepted Answer

A)  Market expansion 
B)  Product use 
C)  Indirect competition 
D)  Direct competition 
E)  Market forecasting

Question 13

An important aspect of competitive scenario analysis is the ability to assess the financial resources of a competitor.What questions should you consider when doing this?

Accepted Answer

The answer of An important aspect of competitive scenario analysis...

Question 14

Two companies dominate the airline industry in England, AirDream and Jet Setter.Recently the CEO of AirDream announced plans for a hostile takeover of Jet Setter, the announcement caused Jet Setter's customers to question the company's long-term viability and eventually AirDream did purchase Jet Setter.The initial announcement of plans for a hostile takeover can be seen as ethically wrong, do you agree with this statement why or why not?

Accepted Answer

The answer of Two companies dominate the airline industry in...

Question 15

________________ offer(s)products that may be substituted based on the customer's need and choice options.

Accepted Answer

A)  Direct competitors 
B)  Indirect competitors 
C)  Product use 
D)  Substitution 
E)  None of the above

Question 16

You have just opened a coffee shop in Washington
D.C. You realize that you need to understand the competitive environment, so you start to figure out who your competitors are. What are the differences between direct and indirect competitors in your industry? Give some examples of each.
Direct competitors offer products considered very close substitutes for a company's current products and services. Examples of direct competitors include Starbuck's, McDonald's, convenience stores, gas stations, and cafés.

Accepted Answer

The answer of You have just opened a coffee shop...

Question 17

A company's ethics is greatly influenced by its ________________________.

Accepted Answer

A)  Innovations 
B)  Growth 
C)  Company culture 
D)  Reputation 
E)  Strategy

Question 18

A company's _______________ is a critical element in competitor analysis.A good way to valuate it is to look at the company's senior management team.

Accepted Answer

A)  Location 
B)  Culture 
C)  Customer Orientation 
D)  Product Mix 
E)  Marketing Mix

Question 19

A company that moves toward the end user is engaged in __________________.

Accepted Answer

A)  Production orientation 
B)  Selling orientation 
C)  Marketing orientation 
D)  Backward integration 
E)  Forward integration

Question 20

A(n)_________________ exists when many companies offer unique products in different market segments.

Accepted Answer

A)  Monopoly 
B)  Oligopoly 
C)  Monopolistic competition 
D)  Pure competition 
E)  None of the above

Exam 6: Understanding Competitors: Analysis to Action

A company with the reputation of being leader in innovation tends to be ______________.

The use of government quotas, import fees, and a host of other regulations are designed to encourage foreign competitors in a country.

Larry has been working at Funk and Percy, a marketing firm in New York City.Larry has just been given a new client and is try to explain to the client why it is so important to find out what competition looks like through the customer's eyes.What would you say to help Larry explain this?

Typically, marketing managers have difficulty determining which competitors are direct competitors.

The movement of raw materials into the manufacturing process and on to the final consumer links many companies through a complex logistics network and is known as the ____________.

The merger between XM and Sirius Satellite Radios required approval from the Justice Department because it was argued that the merger would create a(n) ___________.

Monopolies differ from other market environments in that _____________.

Internet search engines can give you enormous amounts of both relevant and irrelevant information when researching competitors.One way to filter through the information is to use fee based search sites like ProQuest.

A key question in any merger of two companies operating in the same basic market space is the definition of the market.

Marketing manager for a world renowned auction house, Christine finds it hard to identify direct competitors from a(n) ________________ perspective.

In __________________, companies merge operations back up the supply chain away from the consumer.

Edward is starting to research for his summer vacation next year.He is trying to decide between a trip to a theme park, a trip to another country or a cruise.All of Edward's options best describe a list of ______________.

An important aspect of competitive scenario analysis is the ability to assess the financial resources of a competitor.What questions should you consider when doing this?

________________ offer(s) products that may be substituted based on the customer's need and choice options.

A company's ethics is greatly influenced by its ________________________.

A company's _______________ is a critical element in competitor analysis.A good way to valuate it is to look at the company's senior management team.

A company that moves toward the end user is engaged in __________________.

A(n) _________________ exists when many companies offer unique products in different market segments.