Exam 11: Dealing with Competition

Market leaders are constantly under attack from large and small competitors alike.What is the most constructive response a market leader can make when defending its terrain

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

A(n)________ is a group of firms that offer a product or class of products that are close substitutes for one another.

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.

All happy customers are profitable.

One of the chief advantages held by a market nicher is the fact that once a niche is established,it tends to be rather stable and can be "milked for profit" for several years (i.e.,single niching is a preferred strategy).

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.

Which of the following types of companies is felt to be in a better position to identify new opportunities

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

Michael Porter has identified five forces that determine the intrinsic long-run attractiveness of a market or market segment.Which of the following would NOT be among Porter's five forces

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

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.

The most attractive segment is one in which the entry barriers are low and exit barriers are high.

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.

A firm that serves small market segments not being served by bigger firms is known as a ________.

Pushing for higher market share is less justified when ________.

Michael Porter has identified five forces that determine the intrinsic long-run attractiveness of a market or market segment.Briefly list and characterize those forces.

A typical market challenger strategy is that of being an imitator (e.g.,copies some things from the leader but maintains differentiation in terms of packaging,advertising,pricing,or location).

When a market challenger uses a frontal attack,what is the principle of force

Firms should only ever target weak competitors in order to maximize the return on their competitive investments.