Question 1

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

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

According to information provided in Michael Porter's model that describes segment structural attractiveness,the threat of mobility can be encountered.In which of the five forces described by Porter would such a threat occur?

Accepted Answer

This threat would oc

Question 3

In selecting customers,a company should ________ those who are vulnerable and not valuable.

Accepted Answer

A) make every effort to retain 
B) focus on maintaining margins on 
C) encourage the departure of 
D) try to improve the vulnerability of 
E) try to improve the value of 
A) make every effort to retain 
B) focus on maintaining margins on 
C) encourage the departure of 
D) try to improve the vulnerability of 
E) try to improve the value of

Question 4

In a ________ company,the obsession of the company is with the customer,not the competition.

Accepted Answer

A) niche-centered 
B) price-centered 
C) cost-centered 
D) customer-centered 
E) promotion-centered 
A) niche-centered 
B) price-centered 
C) cost-centered 
D) customer-centered 
E) promotion-centered

Question 5

Identify the two requirements that must be satisfied to create a successful low-cost operation.

Accepted Answer

Companies should set up low-cost operati

Question 6

In his article,"Innovative Imitation," Theodore Levitt argues that ________.

Accepted Answer

A) imitation is wrong and should be punished 
B) product imitation might be as profitable as a strategy of product innovation 
C) innovation is not possible without substantial imitation 
D) innovation cannot begin unless dissatisfaction with imitation occurs 
E) imitation should be against the law because of the intellectual property decision involved 
A) imitation is wrong and should be punished 
B) product imitation might be as profitable as a strategy of product innovation 
C) innovation is not possible without substantial imitation 
D) innovation cannot begin unless dissatisfaction with imitation occurs 
E) imitation should be against the law because of the intellectual property decision involved

Question 7

Identify the seven steps of benchmarking.

Accepted Answer

The seven steps of benchmarking are: (1)

Question 8

If your company was labeled as an imitator (market follower),what would your primary strategies for meeting competition be?

Accepted Answer

According to information provided in the

Question 9

If you were asked to develop a mobile defense for your products that are likely to come under attack from a market challenger,what would you suggest?

Accepted Answer

In mobile defense,the leader stretches i

Question 10

A good way of describing a contraction defense would be to label it a strategic withdrawal.

Accepted Answer

A) True 
 B)False

Question 11

If a market leader follows a strategy of continuous innovation,it keeps increasing its competitive strength and value to its customers.

Accepted Answer

A) True 
 B)False

Question 12

A typical market challenger strategy is that of being an imitator (e.g. ,copies some things from the leader but maintains differentiation in terms of packaging,advertising,pricing,or location).

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

A) market-penetration 
B) new-market segment 
C) geographical-expansion 
D) niche identification 
E) blue-ocean 
A) market-penetration 
B) new-market segment 
C) geographical-expansion 
D) niche identification 
E) blue-ocean

Question 14

An industry is a group of firms that offer a product or class of products that are close substitutes for one another.

Accepted Answer

A) True 
 B)False

Question 15

Once a company has identified its main competitors and their strategies,it must next ask: ________?

Accepted Answer

A) What are the competitors' objectives 
B) What are the competitive brand attributes 
C) What are the competitive promotion schemes 
D) What is the attrition rate in the market 
E) What are the subtle market entrance requirements 
A) What are the competitors' objectives 
B) What are the competitive brand attributes 
C) What are the competitive promotion schemes 
D) What is the attrition rate in the market 
E) What are the subtle market entrance requirements

Question 16

Sony is an unusual market leader.It gives its customers new products that they have never even asked for (e.g. ,Walkmans,VCRs,video cameras,CDs).This makes Sony a(n)________ firm.

Accepted Answer

A) market-driven 
B) market-driving 
C) operations-driven 
D) vision-driven 
E) virtually-driven 
A) market-driven 
B) market-driving 
C) operations-driven 
D) vision-driven 
E) virtually-driven

Question 17

What differentiates a "good" competitor from a "bad" one?

Accepted Answer

Good competitors play by the industry's

Question 18

As a brand manager,you have decided to implement a preemptive defense to meet an anticipated competitive challenge.Describe the preemptive defense.

Accepted Answer

A preemptive defense is a more aggressiv

Question 19

Most companies aim their competitive shots at ________ competitors,because this requires fewer resources per share point gained.

Accepted Answer

A) strong 
B) weak 
C) distant 
D) "good" 
E) unacknowledged 
A) strong 
B) weak 
C) distant 
D) "good" 
E) unacknowledged

Question 20

Clorox runs ads stressing the many benefits of its bleach,such as how it eliminates kitchen odors,in order to generate additional opportunities to use the brand in the same basic way.This is an attempt to ________.

Accepted Answer

A) increase the amount of consumption 
B) increase the level of consumption 
C) increase the perception of consumption 
D) increase the frequency of consumption 
E) increase the emotional implications of consumption 
A) increase the amount of consumption 
B) increase the level of consumption 
C) increase the perception of consumption 
D) increase the frequency of consumption 
E) increase the emotional implications of consumption

Exam 11: Dealing With Competition

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

According to information provided in Michael Porter's model that describes segment structural attractiveness,the threat of mobility can be encountered.In which of the five forces described by Porter would such a threat occur?

In selecting customers,a company should ________ those who are vulnerable and not valuable.

In a ________ company,the obsession of the company is with the customer,not the competition.

Identify the two requirements that must be satisfied to create a successful low-cost operation.

In his article,"Innovative Imitation," Theodore Levitt argues that ________.

Identify the seven steps of benchmarking.

If your company was labeled as an imitator (market follower),what would your primary strategies for meeting competition be?

If you were asked to develop a mobile defense for your products that are likely to come under attack from a market challenger,what would you suggest?

A good way of describing a contraction defense would be to label it a strategic withdrawal.

If a market leader follows a strategy of continuous innovation,it keeps increasing its competitive strength and value to its customers.

A typical market challenger strategy is that of being an imitator (e.g. ,copies some things from the leader but maintains differentiation in terms of packaging,advertising,pricing,or location).

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

An industry is a group of firms that offer a product or class of products that are close substitutes for one another.

Once a company has identified its main competitors and their strategies,it must next ask: ________?

Sony is an unusual market leader.It gives its customers new products that they have never even asked for (e.g. ,Walkmans,VCRs,video cameras,CDs).This makes Sony a(n)________ firm.

What differentiates a "good" competitor from a "bad" one?

As a brand manager,you have decided to implement a preemptive defense to meet an anticipated competitive challenge.Describe the preemptive defense.

Most companies aim their competitive shots at ________ competitors,because this requires fewer resources per share point gained.

Clorox runs ads stressing the many benefits of its bleach,such as how it eliminates kitchen odors,in order to generate additional opportunities to use the brand in the same basic way.This is an attempt to ________.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Gathering Information and Scanning the Environment

Conducting Marketing Research and Forecasting Demand

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 Integrated Marketing

Managing Retailing, wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications:

Managing Personal Communications:

Introducing New Market Offerings

Tapping Into Global Markets

Managing a Holistic Marketing Organization

Filters