Exam 12: Addressing Competition and Driving Growth

As the marketing manager for a floor tile manufacturer, Evans Smith is given a target to achieve 500 new customers by the end of summer. He decides to search the market for probable customers who might use the product but currently do not. Which of the following strategies is Evans pursuing to increase the market demand for his product?

During the ________ stage of a product's life cycle, sales show a downward drift and profits erode.

The ________ copies some things from the leader but differentiates on packaging, advertising, pricing, or location.

After a couple of years of successful business, an experimental theatre company based in Aurora is unable to sell tickets for its theatre shows. They have been using profits from previous shows to run the business. The company is in the ________ phase of its life cycle.

When the total market expands, the market ________ usually gains the most.

A market nicher is considered to be a(n) ________ specialist if the firm specializes in producing a certain type of product or product feature such as Rent-a-Wreck, that rents only "beat-up" cars.

When firms look for new users in groups that have never used the product before, the firm is using the ________ strategy.

As a brand manager of a firm that manufactures denim jeans, how will you implement a preemptive defense marketing strategy to meet an anticipated competitive challenge?

Which of the following is the most constructive response a market leader can make when defending its market share?

When large companies can no longer defend their full territory, they can launch a ________ defense where they give up weaker markets and reassign resources to stronger ones.

Which of the following strategies should be adopted by marketers during a recession?

Growing the core can be a less risky alternative than expansion into new product categories.

A(n) ________ strategy is another name for identifying shifts in market segments that are causing gaps to develop, then rushing in to fill the gaps and developing them into strong segments.

A market leader on the look out for more usage from existing customers should focus on increasing the frequency of consumption and ________.

When food product companies advertise recipes that use their branded products in entirely different ways, they are increasing the ________ consumption of the brand.

The cost of buying higher market share through acquisition may far exceed its revenue value. Which are the four factors a company should consider before doing so?

Vancouver, Canada's Fortuna Silver Mines has focused on its two fully owned, fully integrated silver mines in Peru and Mexico to spur organic growth while looking for a third mine to drive further growth because the existing mines are not expandable.

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

The market leader should look for new customers or more usage from existing customers.

The TelePizza chain, which operates in Europe and Latin America, has copied Domino's service model but maintains differentiation in terms of location. TelePizza is an example of a(n) ________.