Question 1

A firm that serves small market segments that are not being served by bigger firms is known as a ________.

Accepted Answer

A) market challenger 
B) market leader 
C) market follower 
D) market nicher 
E) market entrant 
A) market challenger 
B) market leader 
C) market follower 
D) market nicher 
E) market entrant

Question 2

In ________,the market leader stretches its domain over new territories that can serve as future centers for defense and offense.

Accepted Answer

A) counteroffensive defense 
B) flank defense 
C) contraction defense 
D) mobile defense 
E) position defense 
A) counteroffensive defense 
B) flank defense 
C) contraction defense 
D) mobile defense 
E) position defense

Question 3

Which three groups of customers can help expand a firm's market demand?

Accepted Answer

Every product class has the potential to

Question 4

A market-penetration strategy is one where a company searches for new customers in a group that has never used a product before.

Accepted Answer

A) True 
 B)False

Question 5

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.

Accepted Answer

A) end-user 
B) vertical-level 
C) customer-size 
D) channel 
E) product-feature 
A) end-user 
B) vertical-level 
C) customer-size 
D) channel 
E) product-feature

Question 6

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

Accepted Answer

A) frontal attack 
B) flank attack 
C) bypass attack 
D) encirclement attack 
E) guerilla attack 
A) frontal attack 
B) flank attack 
C) bypass attack 
D) encirclement attack 
E) guerilla attack

Question 7

Firms with low shares of the total market can become highly profitable through smart niching.

Accepted Answer

A) True 
 B)False

Question 8

A music school in India,specializes in teaching the guitar and the violin.After a spurt in growth and a few successful years,the school is experiencing a slowdown in sales and stability in its profits due to an increase in competition.The school is in the ________ stage of its life cycle.

Accepted Answer

A) introduction 
B) growth 
C) decline 
D) maturity 
E) obsolescence 
A) introduction 
B) growth 
C) decline 
D) maturity 
E) obsolescence

Question 9

A responsive marketer looks ahead to needs customers may have in the near future.

Accepted Answer

A) True 
 B)False

Question 10

In tough times,consumers may change what they want and can afford,where and how they shop,even what they want to see and hear from a firm.

Accepted Answer

A) True 
 B)False

Question 11

Market challengers are companies that attack the leader and other competitors in an aggressive bid for further market share.

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) creative 
B) responsive 
C) anticipative 
D) laidback 
E) inexperienced 
A) creative 
B) responsive 
C) anticipative 
D) laidback 
E) inexperienced

Question 13

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.

Accepted Answer

A) mobile 
B) counteroffensive 
C) preemptive 
D) contraction 
E) flank 
A) mobile 
B) counteroffensive 
C) preemptive 
D) contraction 
E) flank

Question 14

Encirclement attempts to capture a wide slice of territory by launching a grand offensive on several fronts.

Accepted Answer

A) True 
 B)False

Question 15

Price,distribution,and communication are the nonproduct elements that marketers modify to increase product sales.

Accepted Answer

A) True 
 B)False

Question 16

An alternate way to increase sales volume is to expand the number of users by having them consume more of the product on each occasion.

Accepted Answer

A) True 
 B)False

Question 17

According to Peter Golder and Gerald Tellis,a(n)________ is the first to develop a working model of the product.

Accepted Answer

A) developer 
B) creative pioneer 
C) market pioneer 
D) product pioneer 
E) inventor 
A) developer 
B) creative pioneer 
C) market pioneer 
D) product pioneer 
E) inventor

Question 18

Describe a counterfeiter as a market-follower.

Accepted Answer

A counterfeiter duplicates the leader's

Question 19

As a(n)________,BurgerJacks,a fast food chain selling low-price burgers,has differentiated on location by setting up base in the Middle East,a market which the current leader of the industry McDonalds has yet not exploited.

Accepted Answer

A) cloner 
B) imitator 
C) counterfeiter 
D) adapter 
E) innovator 
A) cloner 
B) imitator 
C) counterfeiter 
D) adapter 
E) innovator

Question 20

What is counteroffensive defense? Explain with an example.

Accepted Answer

In a counteroffensive,the market leader

Exam 11: Competitive Dynamics

A firm that serves small market segments that are not being served by bigger firms is known as a ________.

In ________,the market leader stretches its domain over new territories that can serve as future centers for defense and offense.

Which three groups of customers can help expand a firm's market demand?

A market-penetration strategy is one where a company searches for new customers in a group that has never used a product before.

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.

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

Firms with low shares of the total market can become highly profitable through smart niching.

A music school in India,specializes in teaching the guitar and the violin.After a spurt in growth and a few successful years,the school is experiencing a slowdown in sales and stability in its profits due to an increase in competition.The school is in the ________ stage of its life cycle.

A responsive marketer looks ahead to needs customers may have in the near future.

In tough times,consumers may change what they want and can afford,where and how they shop,even what they want to see and hear from a firm.

Market challengers are companies that attack the leader and other competitors in an aggressive bid for further market share.

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

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.

Encirclement attempts to capture a wide slice of territory by launching a grand offensive on several fronts.

Price,distribution,and communication are the nonproduct elements that marketers modify to increase product sales.

An alternate way to increase sales volume is to expand the number of users by having them consume more of the product on each occasion.

According to Peter Golder and Gerald Tellis,a(n)________ is the first to develop a working model of the product.

Describe a counterfeiter as a market-follower.

As a(n)________,BurgerJacks,a fast food chain selling low-price burgers,has differentiated on location by setting up base in the Middle East,a market which the current leader of the industry McDonalds has yet not exploited.

What is counteroffensive defense? Explain with an example.

Defining Marketing for the New Realities

Developing Marketing Strategies and Plans

Gathering Information and Forecasting Demand

Conducting Marketing Research

Creating Customer Value,satisfaction,and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Marketing Channels and Value Networks

Managing Retailing,wholesaling,and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, sales Promotions, events, and Public Relations

Managing Digital Communications: Online, social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Introducing New Market Offerings

Tapping Into Global Markets

Managing a Holistic Marketing Organization

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