Exam 11: Dealing With Competition

How should a company deal with customers who are neither vulnerable nor valuable?

As a market follower strategy,the ________ copies some things from the leader but maintains differentiation in terms of packaging,advertising,pricing,or location.This strategy is tolerated by the market leader as long as the follower's aggressiveness does not mount.

The encirclement attack by a market challenger consists of waging small,intermittent attacks to harass and demoralize the opponent and eventually secure permanent footholds.

Using the market approach,________ are companies that satisfy the same customer need.

As one of the market follower strategies,counterfeiting duplicates the leader's product and package and sells it on the black market or through disreputable dealers.

The market leader should consider several factors before pursuing increased market share.One of the chief factors for consideration is the effect of increased market share on actual and perceived quality.

What factors contribute to increasing the bargaining power of buyers?

Your marketing manager has chosen the bypass attack as a means of responding to an industry leader.Describe the ideas contained in the bypass attack.

Increases in ________ arise from increases in ________.

The market follower typically earns less than the market leader.

Greyhound and Amtrak have seen profitability threatened by the rise of air travel.These companies have experienced the threat of ________.

When U.S.tobacco companies acknowledged the growing curbs on cigarette smoking and decided to move into new industries,such as beer,liquor,and soft drinks,they were employing a market broadening mobile defense.

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?

The aims of defensive strategy are to reduce the probability of attack,divert attacks to less-threatening areas,and lessen their intensity.

If your company monitors competitive "share of mind," what is your company monitoring?

All companies seek to maximize both long- and short-term profits.

Companies that make steady gains in mind share and heart share will inevitably make gains in market share and profitability.

________ is the percentage of customers who named the competitor in responding to the statement,"Name the company from which you would prefer to buy the product."

Avon became a major cosmetics company by perfecting door-to-door selling instead of battling other cosmetic firms in conventional stores.This is an example of which of the following specific market challenger attack strategies?

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