Exam 4: Marketing Strategies for Competitive Advantage

The competitive positioning strategy whereby the company does not pursue a clear strategy and attempts to be good on all strategic counts is known as:

Middle- of- the- road strategy has been said to be a recipe for "strategic mediocrity." Do you agree with this view? Give your reasons.

The steps involved in a benchmarking analysis do NOT include which of the following?

Market followers are those runner- up firms in an industry that want to hold their market share without rocking the boat.

A company that has the opportunity to observe the market leader and then improve on the leader's strategies or products is said to have a ________advantage.

Which of the following is the last step in conducting a benchmark analysis?

The competitive position known as market nicher is characterised as a firm that:

Indian company, Tata Chemicals has been developing a range of new product concepts to grow its share of the table salt market. One product line includes a range of flavoured salts marketed as Salt Flavoritz. Flavours include salt with lemon- coriander; red paprika and onion- garlic. At the time when these products were launched onto the market, there was no sub- category for flavoured salts within the mother category of table salt. Tata Chemicals' foray into flavoured salts could be considered as a:

Many large and mature companies get stuck in formulated marketing in which they pore over the latest Nielsen numbers, scan market research reports, and try to fine- tune their competitive strategies and programmes, resulting in an overall loss of marketing creativity and passion.

The firm with the largest market share in an industry is known as the market:

Competitors whose actions disrupt the market- place or who use strategies that challenge the existence of other competitors or cause harm to overall industry profitability are often known as ________competitors.

As small companies achieve success, they inevitably develop formal marketing strategies and adhere to them closely. Typically, they have more to spend on advertising and promotion of their products or services. This approach to strategy is BEST described as:

The competitive positioning strategy whereby the company focuses its efforts on serving a few market segments well is known as:

Most companies compete with close competitors; that is, those that resemble them the most.

By offering consumers greater value and satisfaction, companies may gain a(n) over their competitors.

The first step in developing successful, customer value- based strategies is:

A company that pursues low- cost leadership will react much more strongly to a competitor's cost- reducing manufacturing breakthrough than to the same competitor's advertising increase.

Some companies seek to identify unoccupied market spaces by developing products and services for which there are no competitors. According to the text, this is known as:

According to the text, which of the following viewpoints is MOST likely to provide the marketer with the broadest set of actual and potential competitors?

A strategic group is a group of firms in an industry following the same or a similar strategy.