Exam 12: Addressing Competition and Driving Growth

Pepsodent launched a new product that could whiten teeth, fight decay, and maintain fresh breath. Observing that Pepsodent did not focus on the dental sensitivity aspect, Colgate introduced a toothpaste which did all of the above and also protected sensitive teeth. This is an example of a(n) ________ attack.

Selective price cuts, intense promotional blitzes, and occasional legal action are commonplace in the strategic design of a(n) ________ attack.

If your company, which is a market follower, was labeled as an imitator, what would its primary strategies for meeting competition be?

After Olay entered and took over the Indian market with its anti-aging lotion, Ponds invested heavily in a similar product which used only natural ingredients. This is an example of a ________ defense.

A creative marketer discovers solutions customers did not ask for but to which they enthusiastically respond.

In counteroffensive marketing, the market leader can meet the attacker frontally and hit its flank, or launch a pincer movement so that it is forced to pull back to defend itself.

In his article, "Innovative Imitation," Theodore Levitt argues that ________.

Assume that your firm is a market leader in manufacturing detergent. How would the firm use position defense as a defensive marketing strategy to maintain its share?

The nicher achieves high sales volume, whereas the mass marketer achieves high margin.

An alternative to being a market follower in a large market is to be a leader in a small market. This type of competitor is called a ________.

Newman Inc. is a company that manufactures saddles specifically for horses that race in derbies in the United States and the United Kingdom. Within this context the firm is exhibiting the role of a ________ specialist.

For a market challenger, attacking ________ is a high risk but potentially high payoff strategy, which also allows it to distance itself from other challengers.

As a market follower, the ________ may choose to sell to different markets, but often it grows into a future challenger.

Attacking the market leader proves successful and beneficial only when the leader is not serving the market well.

To satisfy customers, a(n) ________ marketer finds a stated need and fills it.

Trendz Inc. is a leading brand of fashion clothing and accessories based in Houston. After gaining a strong foothold in the US, the company wants to foray into foreign markets. The management at Trendz knows that people residing in other countries are likely to have different tastes and preferences, so they may have to redesign some of their offerings. Which of the following strategies is Trendz using?

The key idea in successful nichemanship is specialization. Which of the following specialists would most closely be identified with the characterization of being an organization that limits its selling to one customer?

If Microsoft announces plans for a new-product development, smaller firms may choose to concentrate their development efforts in other directions to avoid head-to-head competition. In this example, Microsoft is employing a ________ defense strategy.

As a market-follower strategy, a counterfeiter emulates the leader's products, name, and packaging, with slight variations.

Redo is a market follower in the wristwatch industry. After noticing a shortfall in the market leader's product, Redo improves its product to suit consumer needs and becomes a challenger for the market leader. This is an example of a(n) ________.