Question 1

A market is unattractive if it already contains numerous,strong,or aggressive competitors.

Accepted Answer

A) True 
 B)False

Question 2

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

Accepted Answer

A)  contenders 
B)  competitors 
C)  substitutes 
D)  unclear demand 
E)  profit fluctuation 
A)  contenders 
B)  competitors 
C)  substitutes 
D)  unclear demand 
E)  profit fluctuation

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

________ competitors try to buy market share rather than earn it; take large risks; invest in overcapacity; and upset industrial equilibrium.

Accepted Answer

A)  "Bad" 
B)  "Good" 
C)  Distant 
D)  Close 
E)  Strong 
A)  "Bad" 
B)  "Good" 
C)  Distant 
D)  Close 
E)  Strong

Question 7

As a marketing manager,you have decided to pursue new customers with your established products.Specifically,the new customers that you want are those who might use the product but do not at present.Which of the following strategies is recommended to pursue such a customer market

Accepted Answer

A)  Market-penetration strategy 
B)  New-market segment strategy 
C)  Geographical-expansion strategy 
D)  Needs-assessment strategy 
E)  Consolidation strategy 
A)  Market-penetration strategy 
B)  New-market segment strategy 
C)  Geographical-expansion strategy 
D)  Needs-assessment strategy 
E)  Consolidation strategy

Question 8

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.

Accepted Answer

A)  end-user 
B)  vertical-level 
C)  customer-size 
D)  channel 
E)  product-feature 
A)  end-user 
B)  vertical-level 
C)  customer-size 
D)  channel 
E)  product-feature

Question 9

How can a firm with low share of the total market become highly profitable

Accepted Answer

Firms with low shares of the total marke

Question 10

If you were asked to develop a mobile defense for your products that are likely to come under attack from a market challenger,what would you suggest

Accepted Answer

In mobile defense,the leader stretches i

Question 11

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 ________.

Accepted Answer

A)  be a cost leader 
B)  find new, innovative technologies on a monthly basis 
C)  strive to win promotional awards 
D)  find ways to expand total market demand 
E)  pursue markets others do not want 
A)  be a cost leader 
B)  find new, innovative technologies on a monthly basis 
C)  strive to win promotional awards 
D)  find ways to expand total market demand 
E)  pursue markets others do not want

Question 12

You are about to change the emphasis of your organization from a competitor-centered company to a customer-centered one.What are the advantages to making such a switch

Accepted Answer

The advantages of the customer-centered

Question 13

In ________,the market leaders stretches its domain over new territories that can serve as future centers for defense and offense.

Accepted Answer

A)  counteroffensive defense 
B)  flank defense 
C)  mobile defense 
D)  contraction defense 
E)  position defense 
A)  counteroffensive defense 
B)  flank defense 
C)  mobile defense 
D)  contraction defense 
E)  position defense

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

According to information provided in Michael Porter's model that describes segment structural attractiveness,the suppliers' growing bargaining power is a real threat.What is considered to the best defense for such a threat

Accepted Answer

The best defenses to this thre

Question 16

If Microsoft announces plans for a new-product development,smaller firms may choose to concentrate their development efforts in other directions to avoid head-to-head competition.In this example,Microsoft is employing a ________ strategy.

Accepted Answer

A)  preemptive defense 
B)  counteroffensive defense 
C)  mobile defense 
D)  flank defense 
E)  contraction defense 
A)  preemptive defense 
B)  counteroffensive defense 
C)  mobile defense 
D)  flank defense 
E)  contraction defense

Question 17

Chevrolet competes with Ford,not with Ferrari.Which of the following statements most aptly fits with the competitive situation faced by Chevrolet when it seeks optimum selection of competitors

Accepted Answer

A)  Compete with strong competitors. 
B)  Compete with distant competitors. 
C)  Compete with parallel competitors. 
D)  Compete with bad competitors. 
E)  Compete with close competitors. 
A)  Compete with strong competitors. 
B)  Compete with distant competitors. 
C)  Compete with parallel competitors. 
D)  Compete with bad competitors. 
E)  Compete with close competitors.

Question 18

Companies successfully gaining market share typically outperform competitors in which of the following areas

Accepted Answer

A)  New-product activity 
B)  Relative product quality 
C)  Marketing expenditures 
D)  All of the above 
E)  None of the above 
A)  New-product activity 
B)  Relative product quality 
C)  Marketing expenditures 
D)  All of the above 
E)  None of the above

Question 19

When a regional computer-manufacturing firm began to seek out customers who lived outside of its traditional market boundaries,the firm was employing which of the following new-customer expansion strategies to expand its total market

Accepted Answer

A)  market-penetration strategy 
B)  new-market segment strategy 
C)  geographic-expansion strategy 
D)  product differentiation strategy 
E)  latent demand strategy 
A)  market-penetration strategy 
B)  new-market segment strategy 
C)  geographic-expansion strategy 
D)  product differentiation strategy 
E)  latent demand strategy

Question 20

Sony is an unusual market leader.It gives its customers new products that they have never even asked for (e.g.,Walkmans,VCRs,video cameras,CDs).This makes Sony a(n)________ firm.

Accepted Answer

A)  market-driven 
B)  market-driving 
C)  operations-driven 
D)  vision-driven 
E)  virtually-driven 
A)  market-driven 
B)  market-driving 
C)  operations-driven 
D)  vision-driven 
E)  virtually-driven

Exam 11: Dealing with Competition

A market is unattractive if it already contains numerous,strong,or aggressive competitors.

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

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

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

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

________ competitors try to buy market share rather than earn it; take large risks; invest in overcapacity; and upset industrial equilibrium.

As a marketing manager,you have decided to pursue new customers with your established products.Specifically,the new customers that you want are those who might use the product but do not at present.Which of the following strategies is recommended to pursue such a customer market

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.

How can a firm with low share of the total market become highly profitable

If you were asked to develop a mobile defense for your products that are likely to come under attack from a market challenger,what would you suggest

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 ________.

You are about to change the emphasis of your organization from a competitor-centered company to a customer-centered one.What are the advantages to making such a switch

In ________,the market leaders stretches its domain over new territories that can serve as future centers for defense and offense.

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

According to information provided in Michael Porter's model that describes segment structural attractiveness,the suppliers' growing bargaining power is a real threat.What is considered to the best defense for such a threat

If Microsoft announces plans for a new-product development,smaller firms may choose to concentrate their development efforts in other directions to avoid head-to-head competition.In this example,Microsoft is employing a ________ strategy.

Chevrolet competes with Ford,not with Ferrari.Which of the following statements most aptly fits with the competitive situation faced by Chevrolet when it seeks optimum selection of competitors

Companies successfully gaining market share typically outperform competitors in which of the following areas

When a regional computer-manufacturing firm began to seek out customers who lived outside of its traditional market boundaries,the firm was employing which of the following new-customer expansion strategies to expand its total market

Sony is an unusual market leader.It gives its customers new products that they have never even asked for (e.g.,Walkmans,VCRs,video cameras,CDs).This makes Sony a(n)________ firm.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Gathering Information and Scanning the Environment

Conducting Marketing Research and Forecasting Demand

Creating Customer Value, Satisfaction, and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

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Tapping into Global Markets

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