Exam 15: Strategies for New and Growing Markets

The pioneer has the opportunity to develop a product offering with attributes most important to the largest segment of customers or to promote the importance of attributes that favor its brand.

Followers have the ability to take advantage of pioneers' positioning mistakes.

Successful fast followers are characterized by their strategy of:

Digitized information products like software and music,pioneers are unlikely to benefit from substantial economies of scale.

In a relatively homogeneous market,a company's primary objective is to protect against loss of share among current customers by meeting or beating a head-to-head competitive offering and to improve ability to win new customers who might otherwise be attracted to competitor's offering.This refers to the _____ strategy.

An American automobile manufacturer decides to enter China for the first time and launch a new brand of automobile.The company spends heavily on advertising before the launch of the product.The purpose of this is likely to be:

In industries characterized by rapid technological advances,pioneers have the advantage of introducing products based on superior,second generation technologies thereby gaining an advantage over the followers.

A follower will most likely succeed when there are few legal,technological,or financial barriers to inhibit entry.

Innovative products manufactured by a company for the first time to create an entirely different market for consumers are known as:

Which of the following elements of marketing strategy is associated with having sufficient manufacturing capacity to pursue a mass-market strategy on a national basis?

A(n)_____ strategy involves targeting several smaller untapped or underdeveloped segments in the market simultaneously.

Success of a pioneering strategy depends on the nature of the demand and competitive situation the pioneer encounters in the market.

Firms pursue niche penetration strategy to capture as many customers possible in the shortest time.

Which of the following is primarily associated with a flanker strategy?

_____ describes a situation where the value of a good or service to a customer increases as greater numbers of people adopt the good or service.

The market expansion strategy's primary objective is to maintain the large share of loyal customer groups who prefer the firm's initial product offering.

A follower typically has more options to design a distribution channel to bring the new product to market than pioneers.

A company whose primary objective is to recoup development and commercialization costs as soon as possible and which withdraws from market when increasing competition puts pressure on margins is practising the _____ strategy.

What are the conditions required for a flank attack to be successful?

Skimming and early withdrawal strategy is characterized by: