Exam 11: Dealing With Competition

Coca-Cola recognizes that its number-one competitor is tap water,not Pepsi.Which of the following statements most aptly fits with the competitive situation faced by Coca-Cola when it seeks optimum selection of competitors?

Position defense involves occupying the most desirable market space in the minds of consumers,making the brand almost impregnable.

________ become market leaders through superior value delivery of unmet-and maybe even unknown-consumer needs.

Because consumers generally fail to recognize when their toothbrushes need to be replaced,many new toothbrushes have a colored set of bristles that fade with wear,signaling the consumer that he or she needs to buy a new toothbrush.This is an example of increasing sales through increasing the frequency of consumption.

All of the following are considered to be viable attack strategies that can be employed by a market challenger EXCEPT ________.

One approach to ________ is to identify completely new and different applications for the product.For example,food product companies have long advertised recipes that use their branded products in entirely different ways.

Your marketing manager has asked you to develop a new customer strategy for your company.Additionally,you have been asked to develop,specifically,a market-penetration strategy to assist in gaining new customers.Describe a market-penetration strategy in this context.

In general,a company should monitor three variables when analyzing competitors.List and briefly characterize those three variables?

A segment is unattractive if the company's suppliers are able to raise prices or reduce quantity supplied.Which of the following is the best illustration of the threat of suppliers' growing bargaining power?

As a strategy for expanding the total market,a market-penetration strategy is aimed at consumers who have never used the product.

As a proven strategy for meeting competitors,almost all companies spend the majority of their time focusing on competitors exclusively.

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.

One of the chief advantages held by a market nicher is the fact that once a niche is established,it tends to be rather stable and can be "milked for profit" for several years (i.e. ,single niching is a preferred strategy).

Sally Seabrook is an up-and-coming marketing manager for a large department store chain.Ms.Seabrook has distinguished herself with bold strategies such as launching attacks on her primary competitor from several fronts,including advertising,new store openings,and new distributor alliances.Which of the following market challenger attack strategies is Ms.Seabrook using to attack her competition?

Michael Porter has identified five forces that determine the intrinsic long-run attractiveness of a market or market segment.Which of the following would NOT be among Porter's five forces?

Which of the following types of companies is characterized as having a "fighter orientation?"

The market nicher is a specialist.Characterize five niche specialist roles that can be assumed by the market nicher.

Being a market leader is often a difficult position to maintain and defend.The firm can try to increase its market share in the face of constant market size,protect its current market share through good defensive and offensive actions,or ________.

Profitability always rises with market share gains.

Markets have become too competitive to focus just on the consumer alone.