Exam 12: Addressing Competition and Driving Growth

Heavy focus on price reductions and discounts during a recession allows firms to improve long-term brand equity and price integrity.

Tasteeos, Fruit Rings, and Corn Flakes sell for nearly $1 a box less than leading cereal brands. Which market follower strategy is being employed by the cereal manufacturer?

During the development stage of the product life cycle, the marketing objective is to maximize profit while defending market share.

Appy Juices, a company that manufactures bottled water, diversified into soft drinks before any of its opponents could launch a diversified product. This would be an example of a(n) ________ attack.

Which of the following brands generates only 6 percent outside North America, with very little of that in fast-growing emerging markets like India, China, and Brazil, which may represent opportunities for its growth?

An alternate way to increase sales volume is to increase the usage rate among users. This can be done by ________.

________ is a period of rapid market acceptance and substantial profit improvement.

What must a firm do to sustain rapid market share growth?

Market broadening and market diversification are likely tactics employed in ________ defense strategies.

An alternative to being a follower in a large market is to be a leader in a small market.

The product strategy during the maturity stage of the product life cycle should be to build more intensive distribution.

The ________ attack can be used when the challenger spots areas where the opponent is underperforming.

The most constructive response to protecting market share is continuous innovation.

The market ________ has the largest market share and usually shows the way to other firms in price changes, new-product introductions, distribution coverage, and promotional intensity.

As a(n) ________, BurgerJacks, a fast food chain selling low-price burgers, has differentiated itself by setting up base in a market not yet exploited by McDonald's.

Aron, a company manufacturing snack food and soft drinks, replicates its product taste and packaging from Lay's, a market leader in snack food industry. Later, it sells these imitated products on the black market. This is an example of ________.

When Starbucks introduced its Tazo Tea line to bring in new customers who had never gone to Starbucks because they don't drink coffee, Starbucks was employing a ________ strategy.

When Procter & Gamble used Gain and Cheer laundry detergents as outposts to protect a weak front or support a possible counterattack, they were using a ________ defense.

Identify the three main strategies for growing a company's core, as noted by UK marketing guru David Taylor, and provide an example for each.

WD40 offers a Smart Straw version of its popular multipurpose lubricant with a built-in straw that pops up for use. This is an example of which of the following main strategies for growing the core of the business?