Exam 11: Competitive Dynamics

Market diversification shifts the company's focus to unrelated industries.

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

A job-shop specialist ________.

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

Glico Pocky chocolate stick snacks has a look-alike in Giant Chocky.Which market follower strategy is being employed by Giant Chocky?

What is fashion?

What is a product-feature specialist?

Explain how luxury brands can benefit during an economic recession from having lower-priced brands or sub-brands in their portfolio.

As the marketing manager of a company that manufactures floor tiles,Evan See 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 do not at present.Which of the following strategies is Evan pursuing to increase the market demand for his product?

A firm that is willing to maintain its market share,and not attack the leader and other competitors in an aggressive bid for further market share,is known as a ________.

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

An alternate way to increase sales volume is to expand the number of users.This can be done by ________.

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

Who are the ideal opponents of a market challenger?

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

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

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

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?

Trendz Inc.is a leading brand of fashion clothing and accessories based in Hong Kong.After gaining a strong foothold in Hong Kong,the company wants to foray into foreign markets.The management at Trends 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?

An inventor is the first to develop a working model while a product pioneer is the first to develop patents in a new-product category.