Question 1

According to the text, which of the following is NOT one of the steps in a competitor analysis?

Accepted Answer

A)  conducting a five forces analysis 
B)  identifying the company's competitors 
C)  assessing the competitors' strengths and strategies 
D)  selecting which competitors to attack or avoid 
E)  All of the above are steps in a competitor analysis. 
A)  conducting a five forces analysis 
B)  identifying the company's competitors 
C)  assessing the competitors' strengths and strategies 
D)  selecting which competitors to attack or avoid 
E)  All of the above are steps in a competitor analysis. A

Question 2

The firm who is a runner- up in an industry but that is fighting to increase its market share is known as the market:

Accepted Answer

A)  challenger. 
B)  follower. 
C)  leader. 
D)  nicher. 
E)  structure. 
A)  challenger. 
B)  follower. 
C)  leader. 
D)  nicher. 
E)  structure. A

Question 3

Many large and mature companies get stuck in deep analysis of numbers such as the latest Nielsen numbers, scan market research reports, which they use to try to fine- tune their competitive strategies and programmes. These companies are best described as:

Accepted Answer

A)  intrapreneurial. 
B)  entrepreneurial. 
C)  multi- national. 
D)  formulated. 
E)  none of the above 
A)  intrapreneurial. 
B)  entrepreneurial. 
C)  multi- national. 
D)  formulated. 
E)  none of the above D

Question 4

A truly market- oriented company does not need to understand competitors' strategies.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following statements about smaller companies gathering competitive intelligence is TRUE?

Accepted Answer

A)  Although smaller companies often cannot afford formal competitive intelligence, they can assign specific executives to monitor specific competitors. 
B)  Due to the paucity of valuable competitive intelligence, smaller companies are likely to be less competitive. 
C)  Smaller companies find it extremely difficult to collect competitor intelligence. 
D)  Smaller companies are more likely to pay expensive external consultancies to gather intelligence on their behalf. 
E)  None of the above are true. 
A)  Although smaller companies often cannot afford formal competitive intelligence, they can assign specific executives to monitor specific competitors. 
B)  Due to the paucity of valuable competitive intelligence, smaller companies are likely to be less competitive. 
C)  Smaller companies find it extremely difficult to collect competitor intelligence. 
D)  Smaller companies are more likely to pay expensive external consultancies to gather intelligence on their behalf. 
E)  None of the above are true.

Question 6

An overall cost leadership strategy involves a company concentrating on creating a highly differentiated product line and marketing programme.

Accepted Answer

A) True 
 B)False

Question 7

Discuss the four (4) basic competitive strategies that companies can follow.

Accepted Answer

1. Overall cost leadership-The company w

Question 8

It has been suggested that companies gain leadership positions through the pursuit of value disciplines such as:

Accepted Answer

A)  competition rivalry. 
B)  focus. 
C)  differentiation. 
D)  overall cost leadership. 
E)  product leadership. 
A)  competition rivalry. 
B)  focus. 
C)  differentiation. 
D)  overall cost leadership. 
E)  product leadership.

Question 9

It has been suggested that companies gain leadership positions through the pursuit of value disciplines such as:

Accepted Answer

A)  customer intimacy. 
B)  overall cost leadership. 
C)  differentiation. 
D)  competition rivalry. 
E)  focus. 
A)  customer intimacy. 
B)  overall cost leadership. 
C)  differentiation. 
D)  competition rivalry. 
E)  focus.

Question 10

A firm's competitive advantage involves designing offers that can be bettered by their competitors.

Accepted Answer

A) True 
 B)False

Question 11

Most companies are started by individuals who live by their wits, and work hard to develop value for customers and suppliers, while spending very little on advertising or formal strategy. This approach to strategy is BEST described as:

Accepted Answer

A)  niche. 
B)  entrepreneurial. 
C)  formulated. 
D)  intrapreneurial. 
E)  none of the above 
A)  niche. 
B)  entrepreneurial. 
C)  formulated. 
D)  intrapreneurial. 
E)  none of the above

Question 12

A cloner is a market follower who copies the leader's products or services, while maintaining some differentiation in terms of packaging, advertising or other factors such as service levels.

Accepted Answer

A) True 
 B)False

Question 13

Market leaders are those firms with the largest market share in an industry.

Accepted Answer

A) True 
 B)False

Question 14

The competitive position known as market challenger is characterised as the firm that:

Accepted Answer

A)  is a runner- up in an industry but that wants to hold its market share without rocking the boat. 
B)  is a runner- up in an industry but that is fighting to increase its market share. 
C)  pays balanced attention to both customers and competitors in designing its marketing strategies. 
D)  has the largest market share in an industry. 
E)  serves small segments within an industry that others overlook. 
A)  is a runner- up in an industry but that wants to hold its market share without rocking the boat. 
B)  is a runner- up in an industry but that is fighting to increase its market share. 
C)  pays balanced attention to both customers and competitors in designing its marketing strategies. 
D)  has the largest market share in an industry. 
E)  serves small segments within an industry that others overlook.

Question 15

There are said to be distinct types of market followers. Which of the following is NOT one of these types?

Accepted Answer

A)  adaptors 
B)  modifiers 
C)  imitators 
D)  cloners 
A)  adaptors 
B)  modifiers 
C)  imitators 
D)  cloners

Question 16

Identifying competitors' strategies is the first step in competitor analysis.

Accepted Answer

A) True 
 B)False

Question 17

When a market challenger matches the competitor's product, advertising, price and distribution efforts, this is known as a(n):

Accepted Answer

A)  frontal attack. 
B)  guerrilla attack. 
C)  flanking attack. 
D)  bypass attack. 
E)  encirclement attack. 
A)  frontal attack. 
B)  guerrilla attack. 
C)  flanking attack. 
D)  bypass attack. 
E)  encirclement attack.

Question 18

A company exhibiting product leadership is one who provides superior value by offering leading- edge products that make its own and competitors' products obsolete.

Accepted Answer

A) True 
 B)False

Question 19

The competitive positioning strategy whereby the company concentrates on creating a highly differentiated product line and marketing programme is known as:

Accepted Answer

A)  focus. 
B)  middle- of- the- road. 
C)  differentiation. 
D)  price sensitivity. 
E)  overall cost leadership. 
A)  focus. 
B)  middle- of- the- road. 
C)  differentiation. 
D)  price sensitivity. 
E)  overall cost leadership.

Question 20

According to a quotation in your text, "Tomorrow's leading companies will succeed not by battling competitors but by creating '________ oceans' of uncontested market space."

Accepted Answer

A)  red 
B)  yellow 
C)  vast 
D)  blue 
E)  green 
A)  red 
B)  yellow 
C)  vast 
D)  blue 
E)  green

According to the text, which of the following is NOT one of the steps in a competitor analysis?

The firm who is a runner- up in an industry but that is fighting to increase its market share is known as the market:

Many large and mature companies get stuck in deep analysis of numbers such as the latest Nielsen numbers, scan market research reports, which they use to try to fine- tune their competitive strategies and programmes. These companies are best described as:

A truly market- oriented company does not need to understand competitors' strategies.

Which of the following statements about smaller companies gathering competitive intelligence is TRUE?

An overall cost leadership strategy involves a company concentrating on creating a highly differentiated product line and marketing programme.

Discuss the four (4) basic competitive strategies that companies can follow.

It has been suggested that companies gain leadership positions through the pursuit of value disciplines such as:

It has been suggested that companies gain leadership positions through the pursuit of value disciplines such as:

A firm's competitive advantage involves designing offers that can be bettered by their competitors.

Most companies are started by individuals who live by their wits, and work hard to develop value for customers and suppliers, while spending very little on advertising or formal strategy. This approach to strategy is BEST described as:

A cloner is a market follower who copies the leader's products or services, while maintaining some differentiation in terms of packaging, advertising or other factors such as service levels.

Market leaders are those firms with the largest market share in an industry.

The competitive position known as market challenger is characterised as the firm that:

There are said to be distinct types of market followers. Which of the following is NOT one of these types?

Identifying competitors' strategies is the first step in competitor analysis.

When a market challenger matches the competitor's product, advertising, price and distribution efforts, this is known as a(n):

A company exhibiting product leadership is one who provides superior value by offering leading- edge products that make its own and competitors' products obsolete.

The competitive positioning strategy whereby the company concentrates on creating a highly differentiated product line and marketing programme is known as:

According to a quotation in your text, "Tomorrow's leading companies will succeed not by battling competitors but by creating '________ oceans' of uncontested market space."

Marketing: Creating Superior Customer Value

Marketing: Delivering and Capturing Value

Strategic Planning and Marketing

The Global Marketing Environment

Information Management and Marketing Research

Consumer Behaviour

Business-To-Business Behaviour

Market Segmentation, Targeting and Positioning

Products and Services Marketing

New Products

Pricing for Value

Marketing Channels and Logistics Networks

Retailing and Wholesaling

Advertising and Public Relations

Sales Promotion and Selling

Direct and Online Marketing

Tapping Into Markets Across the Globe

Responsible Marketing

Filters

Exam 4: Marketing Strategies for Competitive Advantage

According to the text, which of the following is NOT one of the steps in a competitor analysis?

The firm who is a runner- up in an industry but that is fighting to increase its market share is known as the market:

Many large and mature companies get stuck in deep analysis of numbers such as the latest Nielsen numbers, scan market research reports, which they use to try to fine- tune their competitive strategies and programmes. These companies are best described as:

A truly market- oriented company does not need to understand competitors' strategies.

Which of the following statements about smaller companies gathering competitive intelligence is TRUE?

An overall cost leadership strategy involves a company concentrating on creating a highly differentiated product line and marketing programme.

Discuss the four (4) basic competitive strategies that companies can follow.

It has been suggested that companies gain leadership positions through the pursuit of value disciplines such as:

It has been suggested that companies gain leadership positions through the pursuit of value disciplines such as:

A firm's competitive advantage involves designing offers that can be bettered by their competitors.

Most companies are started by individuals who live by their wits, and work hard to develop value for customers and suppliers, while spending very little on advertising or formal strategy. This approach to strategy is BEST described as:

A cloner is a market follower who copies the leader's products or services, while maintaining some differentiation in terms of packaging, advertising or other factors such as service levels.

Market leaders are those firms with the largest market share in an industry.

The competitive position known as market challenger is characterised as the firm that:

There are said to be distinct types of market followers. Which of the following is NOT one of these types?

Identifying competitors' strategies is the first step in competitor analysis.

When a market challenger matches the competitor's product, advertising, price and distribution efforts, this is known as a(n):

A company exhibiting product leadership is one who provides superior value by offering leading- edge products that make its own and competitors' products obsolete.

The competitive positioning strategy whereby the company concentrates on creating a highly differentiated product line and marketing programme is known as:

According to a quotation in your text, "Tomorrow's leading companies will succeed not by battling competitors but by creating '________ oceans' of uncontested market space."

Marketing: Creating Superior Customer Value

Marketing: Delivering and Capturing Value

Strategic Planning and Marketing

The Global Marketing Environment

Information Management and Marketing Research

Consumer Behaviour

Business-To-Business Behaviour

Market Segmentation, Targeting and Positioning

Products and Services Marketing

New Products

Pricing for Value

Marketing Channels and Logistics Networks

Retailing and Wholesaling

Advertising and Public Relations

Sales Promotion and Selling

Direct and Online Marketing

Tapping Into Markets Across the Globe

Responsible Marketing

Filters