Question 1

Which of the following is most critical for successful niching?

Accepted Answer

A)  follow- up
B)  mass appeal of one idea
C)  buzz marketing
D)  specialization
E)  having only a few specific customers

Question 2

Having identified and evaluated its major competitors,the company now must design broad competitive marketing strategies by which it can gain competitive advantage through superior .

Accepted Answer

A)  target locations
B)  customer value
C)  employee value
D)  employee service
E)  compensation

Question 3

Tomorrow's leading companies will succeed by seeking out unoccupied positions in uncontested market spaces.Such strategic moves,termed ,create powerful leaps in value for both the firm and its buyers,creating new demand for new products.

Accepted Answer

A)  "value innovation"
B)  "strategic platforms"
C)  "service nichers"
D)  "strategic sweet spots"
E)  "common platforms"

Question 4

What is the primary focus of a competitor- centered company?

Accepted Answer

A competitor- centered company spends most of its time tracking competitors' moves and market shares and tries to find strategies to counter them.

Question 5

Why is niching profitable?

Accepted Answer

The main reason a market nicher can succ...

Question 6

Rather than competing head to head with established competitors,many companies seek out unoccupied positions in uncontested market spaces.They try to create products and services for which there are no direct competitors.This is called a .

Accepted Answer

A)  "strategic sweet spot"
B)  "strategic platform"
C)  "common platform"
D)  "blue ocean strategy"
E)  "red ocean strategy"

Question 7

Knowing how major competitors react gives the company clues on how best to competitors or how best to the company's current positions.

Accepted Answer

A)  decrease;defend
B)  value;change
C)  remove;decrease
D)  attack;increase
E)  attack;defend

Question 8

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

Accepted Answer

A)  market niches
B)  benchmarkers
C)  hotbox markets
D)  customer databases
E)  local markets

Question 9

Under which of the following conditions would higher market share be most likely to produce higher profits?

Accepted Answer

A)  when production volume drops as market share increases
B)  when unit costs drop as market share increases
C)  when production volume increases as market share increases
D)  when unit costs increase as market share increases
E)  when the company charges a break- even price

Question 10

Describe a scenario that shows why a company may want to avoid destroying a close competitor.

Accepted Answer

Bausch & Lomb moved aggressively against...

Question 11

Market leaders can grow by further increasing their market shares.

Accepted Answer

A) True 
 B)False

Question 12

Expanding the total market,protecting market share,and expanding market share are all strategies for .

Accepted Answer

A)  market challengers
B)  market leaders
C)  market followers
D)  market nichers
E)  market providers

Question 13

The first step in initiating competitive marketing strategies is to conduct .

Accepted Answer

A)  management modifications
B)  absolute advantage processing
C)  a competitive advantage analysis
D)  a private screening
E)  competitor analysis

Question 14

Discuss the need to understand competitors as well as customers through competitor analysis.

Accepted Answer

In order to prepare an effective marketing strategy,a company must consider its competitors as well as its customers.Building profitable customer relationships requires satisfying target consumer needs better than competitors do.A company must continually analyze competitors and develop competitive marketing strategies that position it effectively against competitors and give it the strongest possible competitive advantage.Competitor analysis first involves identifying the company's major competitors,using both an industry- based and a market- based analysis.The company then gathers information on competitors' objectives,strategies,strengths and weaknesses,and reaction patterns.With this information in hand,it can select competitors to attack or avoid.Competitive intelligence must be collected,interpreted,and distributed continuously.Company marketing managers should be able to obtain full and reliable information about any competitor affecting their decisions.

Question 15

Which of the following are market challenger strategies?

Accepted Answer

A)  expand total market and protect market share
B)  follow closely and follow at a distance
C)  multiple niching
D)  expand market share and follow closely
E)  full frontal attack and indirect attack

Question 16

Cozy Country Market entered the candle market with a niche product: a line of candles made from soy that produce less smoke and last up to twice as long as other candles.Cozy Country Market sold its new line for about twice what you would pay for candles from a chain gift shop such as Hallmark.The product was sold online and in unconventional outlets not dominated by the market leaders.In this case,Cozy Country Market was using against the market leaders.

Accepted Answer

A)  an indirect attack
B)  an individual attack
C)  a leadership attack
D)  a frontal attack
E)  a direct attack A

Question 17

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.

Accepted Answer

A)  multiple attack
B)  frontal attack
C)  direct attack
D)  strength attack
E)  indirect attack

Question 18

By trying to be good at all of the value disciplines,a company usually ends up being best at none.

Accepted Answer

A) True 
 B)False

Question 19

American Express will do almost anything to build long- term customer loyalty and to capture customer lifetime value.American Express pursues which of the following competitive marketing strategies?

Accepted Answer

A)  product leadership
B)  employee intimacy
C)  operational excellence
D)  customer intimacy
E)  differentiation

Question 20

Apple's iTunes Music Store is a good competitor,one that plays by its own rules at the expense of the industry as a whole.

Accepted Answer

A) True 
 B)False

Exam 18: Creating Competitive Advantage

Which of the following is most critical for successful niching?

Correct Answer
verified

Having identified and evaluated its major competitors,the company now must design broad competitive marketing strategies by which it can gain competitive advantage through superior .

Correct Answer
verified

Tomorrow's leading companies will succeed by seeking out unoccupied positions in uncontested market spaces.Such strategic moves,termed ,create powerful leaps in value for both the firm and its buyers,creating new demand for new products.

Correct Answer
verified

What is the primary focus of a competitor- centered company?

Correct Answer
verified
A competitor- centered company spends most of its time tracking competitors' moves and market shares and tries to find strategies to counter them.

Why is niching profitable?

Correct Answer
verified
The main reason a market nicher can succ...
View Answer

Rather than competing head to head with established competitors,many companies seek out unoccupied positions in uncontested market spaces.They try to create products and services for which there are no direct competitors.This is called a .

Correct Answer
verified

Knowing how major competitors react gives the company clues on how best to competitors or how best to the company's current positions.

Correct Answer
verified

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

Correct Answer
verified

Under which of the following conditions would higher market share be most likely to produce higher profits?

Correct Answer
verified

Describe a scenario that shows why a company may want to avoid destroying a close competitor.

Correct Answer
verified
Bausch & Lomb moved aggressively against...
View Answer

Market leaders can grow by further increasing their market shares.

Correct Answer
verified

Expanding the total market,protecting market share,and expanding market share are all strategies for .

Correct Answer
verified

The first step in initiating competitive marketing strategies is to conduct .

Correct Answer
verified

Discuss the need to understand competitors as well as customers through competitor analysis.

Which of the following are market challenger strategies?

Correct Answer
verified

Correct Answer
verified
A

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.

Correct Answer
verified

By trying to be good at all of the value disciplines,a company usually ends up being best at none.

Correct Answer
verified

American Express will do almost anything to build long- term customer loyalty and to capture customer lifetime value.American Express pursues which of the following competitive marketing strategies?

Correct Answer
verified

Apple's iTunes Music Store is a good competitor,one that plays by its own rules at the expense of the industry as a whole.

Correct Answer
verified

Exam 18: Creating Competitive Advantage

Which of the following is most critical for successful niching?

Correct AnswerverifiedShow Answer

Having identified and evaluated its major competitors,the company now must design broad competitive marketing strategies by which it can gain competitive advantage through superior .

Correct AnswerverifiedShow Answer

Tomorrow's leading companies will succeed by seeking out unoccupied positions in uncontested market spaces.Such strategic moves,termed ,create powerful leaps in value for both the firm and its buyers,creating new demand for new products.

Correct AnswerverifiedShow Answer

What is the primary focus of a competitor- centered company?

Correct AnswerverifiedA competitor- centered company spends most of its time tracking competitors' moves and market shares and tries to find strategies to counter them.

Why is niching profitable?

Correct AnswerverifiedThe main reason a market nicher can succ...View AnswerShow Answer

Rather than competing head to head with established competitors,many companies seek out unoccupied positions in uncontested market spaces.They try to create products and services for which there are no direct competitors.This is called a .

Correct AnswerverifiedShow Answer

Knowing how major competitors react gives the company clues on how best to competitors or how best to the company's current positions.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Under which of the following conditions would higher market share be most likely to produce higher profits?

Correct AnswerverifiedShow Answer

Describe a scenario that shows why a company may want to avoid destroying a close competitor.

Correct AnswerverifiedBausch & Lomb moved aggressively against...View AnswerShow Answer

Market leaders can grow by further increasing their market shares.

Correct AnswerverifiedShow Answer

Expanding the total market,protecting market share,and expanding market share are all strategies for .

Correct AnswerverifiedShow Answer

The first step in initiating competitive marketing strategies is to conduct .

Correct AnswerverifiedShow Answer

Discuss the need to understand competitors as well as customers through competitor analysis.

Which of the following are market challenger strategies?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedA

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.

Correct AnswerverifiedShow Answer

By trying to be good at all of the value disciplines,a company usually ends up being best at none.

Correct AnswerverifiedShow Answer

American Express will do almost anything to build long- term customer loyalty and to capture customer lifetime value.American Express pursues which of the following competitive marketing strategies?

Correct AnswerverifiedShow Answer

Apple's iTunes Music Store is a good competitor,one that plays by its own rules at the expense of the industry as a whole.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A competitor- centered company spends most of its time tracking competitors' moves and market shares and tries to find strategies to counter them.

Correct Answer
verified
The main reason a market nicher can succ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Bausch & Lomb moved aggressively against...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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