Exam 11: Dealing With Competition

As a niche specialist role,a channel specialist specializes in serving only one channel of distribution.

The ________ in a given marketplace has the largest market share in the relevant product market and usually leads other firms in price changes,new-product introductions,distribution coverage,and promotional intensity.

Assume that you are the marketing manager for a market challenger that is seeking to attack the market leader with an encirclement attack.Describe the encirclement attack and evaluate probable success using this strategy.

After the market leader position,firms that occupy second,third,and lower ranks in an industry are often called fledgling leaders.

In satisfying customer needs,a ________ marketer discovers and produces solutions customers did not ask for but to which they enthusiastically respond.Sony is a good illustration of such a marketer.

Wal-Mart is perhaps one of the best illustrations of the threat of ________ found in Porter's model.

An example of a strategic group in the appliance industry would be one where ________.

Share of market is the percentage of customers who named the competitor in responding to the statement,"Name the first company that comes to mind in this industry."

Consider that you have been placed in the role of being a market challenger.Where (toward which opponents)can you attack?

An alternative to being a market follower in a large market is to be a leader in a small market.This type of competitor is called a(n)________.

A segment is unattractive when there are actual or potential ________ for the product.

When "petroleum" companies such as BP sought to recast themselves as "energy" companies,increasing their research into the oil,coal,nuclear,hydroelectric,and chemical industries,these companies were employing a ________ strategy.

One of the market leader strategies for expanding the total market is to focus on more usage.Two avenues are open for doing this: increasing the frequency of consumption or ________.

Increasing ________ requires either (1)identifying additional opportunities to use the brand in the same basic way or (2)identifying completely new and different ways to use the brand.

Characterize the four broad strategies often employed by market followers to meet their competitors.

Adam Morgan offers eight suggestions on how small brands can better compete in the marketplace.List five of them.

A firm that is willing to maintain its market share and not rock the boat is known as a ________.

Which of the following types of companies is characterized as being "too reactive?"

The most indirect assault strategy that can be used by a market challenger is the bypass attack where the challenger bypasses the enemy and attacks easier markets to broaden one's resource base.

Although marketers assume well-known brands are distinctive in consumers' minds,unless a dominant firm enjoys a legal monopoly,it must maintain constant vigilance.