Exam 12: Addressing Competition and Driving Growth

Which three groups of marketers help satisfy a customer's needs?

Position defense means occupying the most desirable market space in consumers' minds, making the brand almost impregnable.

Explain how Armani uses its brand portfolio approach to maintain profits during recessions.

What is fashion?

Describe the three strategies that are necessary for a market leader to accomplish to stay on top.

Describe the four broad strategies often employed by market followers to meet their competitors.

Oliver, a company that produces different types of olive oil, launched a promotional campaign focusing on the alternative uses of olive oil. What strategy is the company implementing to expand its total market demand?

During an economic downturn, the potential value and profitability of some target consumers may change.

Galaxy chocolate has successfully competed with Cadbury by positioning itself as "your partner in chocolate indulgence" and featuring smoother product shapes, more refined taste, and sleeker packaging, which represents which of the following main strategies for growing the core of the business?

When Canon grabbed a large chunk of Xerox's market by introducing desk copiers, it distanced itself from other challengers by ________.

The defensive marketing strategy wherein a stream of new products are introduced by a firm and are announced in advance are referred to as ________ defense.

Identify five general strategies for growth.

When a bank takes loan requests over the phone and hand-delivers the money to the customer, it becomes a ________ specialist.

The ________ attack attempts to capture a significant share of the consumer market by launching a grand offensive on several fronts.

The market leader strategy ensures high sales volume, whereas the market nicher strategy allows firms to achieve ________.

What is counteroffensive defense? Explain with an example.

The market nicher is a specialist. Characterize the end-user specialist role that can be assumed by the market nicher.

________ is a distribution strategy that can be effectively used during the growth stage of the product life cycle.

Growth strategies are "either/or" propositions; a focus on core businesses means foregoing new market opportunities.

Benz & Frendz Corp., a manufacturer of high end consumer durables, experienced sluggish sales growth in most of its product categories during three consecutive quarters of 2009. However, market analysis revealed that its competitors' sales had also slackened during this period. Analysts pointed out that when all firms are losing sales, it is extremely important to adopt strategies that are aimed at retaining customers. This led the firm to reduce operation costs while maintaining product quality. They also revamped their marketing strategy to focus on the values created by their products. Which of the following can be inferred from the strategies adopted by the firm?