Question 1

Which of the following is a major objective of firms following a fortress strategy?

Accepted Answer

A) Increasing customer base by focusing on creating new products 
B) Protecting against losses of customers by beating its competitors prices 
C) Protecting against losses of customers by developing a second entry 
D) Increasing satisfaction of customers by building on existing strengths 
A) Increasing customer base by focusing on creating new products 
B) Protecting against losses of customers by beating its competitors prices 
C) Protecting against losses of customers by developing a second entry 
D) Increasing satisfaction of customers by building on existing strengths

Question 2

Niche marketing firms are typically characterized by unlimited product engineering skills and resources.

Accepted Answer

A) True 
 B)False

Question 3

A pioneer stands the best chance for long-term success in market-share leadership and profitability when:

Accepted Answer

A) its product line is narrow compared to direct competitors. 
B) its marketing programs include relatively less advertising and promotional expenditures. 
C) barriers to entry in the new product-market are low. 
D) the firm has sufficient size,resources,and competencies 
A) its product line is narrow compared to direct competitors. 
B) its marketing programs include relatively less advertising and promotional expenditures. 
C) barriers to entry in the new product-market are low. 
D) the firm has sufficient size,resources,and competencies

Question 4

Which of the following is aimed at increasing customers' awareness of a product?

Accepted Answer

A) Increasing organizational quality control 
B) Spending heavily on advertising 
C) Including generic benefits in the product 
D) Providing heavy incentives to customers 
A) Increasing organizational quality control 
B) Spending heavily on advertising 
C) Including generic benefits in the product 
D) Providing heavy incentives to customers

Question 5

A major difference between a skimming strategy and a mass-market penetration strategy is that:

Accepted Answer

A) skimming strategy requires more sales efforts. 
B) mass-market penetration uses lower prices. 
C) mass-market penetration has a short-term focus. 
D) skimming strategy involves large-scale manufacturing. 
A) skimming strategy requires more sales efforts. 
B) mass-market penetration uses lower prices. 
C) mass-market penetration has a short-term focus. 
D) skimming strategy involves large-scale manufacturing.

Question 6

What are the advantages of being a pioneer in a market?

Accepted Answer

Advantages of a pioneer includes economi

Question 7

Tinker Bells,the company which had first come out with laundry detergent,enjoys a well established stable position in the present market.Its primary objective is to increase satisfaction,loyalty,and repeat purchase among current customers by building on existing strengths and appeal to late adopters with same attributes and benefits offered to early adopters.Given its relatively homogeneous market and the fact that its competitors have not succeeded in achieving its quality standards,the company's marketing strategy has proved to be successful.Which of the following marketing strategies is the company pursuing?

Accepted Answer

A) Market expansion strategy 
B) Flanker strategy 
C) Confrontation strategy 
D) Fortress strategy 
A) Market expansion strategy 
B) Flanker strategy 
C) Confrontation strategy 
D) Fortress strategy

Question 8

The most basic defensive strategy is to continually strengthen a strongly held current position to build an impregnable fortress capable of repelling attacks by current or future competitors.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is the best example of a head-to-head positioning against competitive offerings or potential offerings?

Accepted Answer

A) Developing a second brand or product line with more appealing features 
B) Providing more attention to internal quality control processes 
C) Using reminder advertising for existing products 
D) Investing more in smaller and slower-growing segments in an industry 
A) Developing a second brand or product line with more appealing features 
B) Providing more attention to internal quality control processes 
C) Using reminder advertising for existing products 
D) Investing more in smaller and slower-growing segments in an industry

Question 10

Skimming or early withdrawal strategy may be used when early adopters are willing to pay a high price and demand is price inelastic.

Accepted Answer

A) True 
 B)False

Question 11

New-to-the-world products are true innovations that are new to the firm and create an entirely new market.

Accepted Answer

A) True 
 B)False

Question 12

An encirclement strategy makes sense when the market is not fragmented and consists of consumers with homogenous needs.

Accepted Answer

A) True 
 B)False

Question 13

Followers typically enter a market after the decline phase of life cycle,and they start with low market shares relative to the established pioneers.

Accepted Answer

A) True 
 B)False

Question 14

Products new to the company but not to the market such as new product lines present greater challenges for R&D than new-to-the world products.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following strategic elements is a characteristic of successful pioneers?

Accepted Answer

A) Small entry scale 
B) High promotional expenditure 
C) Up-to-date technology 
D) Narrow product line 
A) Small entry scale 
B) High promotional expenditure 
C) Up-to-date technology 
D) Narrow product line

Question 16

A market leader,who enjoys high market share in its industry,develops a new brand with a price that is more appealing to a specific segment of its current customers who are already purchasing one of its existing brands.This is an example of the _____ strategy.

Accepted Answer

A) market expansion 
B) fortress 
C) flanker 
D) confrontation 
A) market expansion 
B) fortress 
C) flanker 
D) confrontation

Question 17

Pioneers cannot quickly add line extensions or modifications to their initial product.

Accepted Answer

A) True 
 B)False

Question 18

If the pioneer's initial product has technical limitations or design flaws,the follower can do little to overcome these weaknesses as the pioneers define the rules of the game.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is a market characteristic of a firm following an encirclement strategy?

Accepted Answer

A) Homogeneous market with respect to customers' needs and purchase criteria 
B) Relatively heterogeneous market with many specialized segments 
C) Presence of only two distinct market segments 
D) Homogenous market with respect to customers' demand criteria 
A) Homogeneous market with respect to customers' needs and purchase criteria 
B) Relatively heterogeneous market with many specialized segments 
C) Presence of only two distinct market segments 
D) Homogenous market with respect to customers' demand criteria

Question 20

A challenger should focus on attracting a larger share of potential new customers if the market is:

Accepted Answer

A) relatively early in the growth phase. 
B) highly penetrated. 
C) characterized by intense competition. 
D) in the maturity phase of product development. 
A) relatively early in the growth phase. 
B) highly penetrated. 
C) characterized by intense competition. 
D) in the maturity phase of product development.

Which of the following is a major objective of firms following a fortress strategy?

Niche marketing firms are typically characterized by unlimited product engineering skills and resources.

A pioneer stands the best chance for long-term success in market-share leadership and profitability when:

Which of the following is aimed at increasing customers' awareness of a product?

A major difference between a skimming strategy and a mass-market penetration strategy is that:

What are the advantages of being a pioneer in a market?

The most basic defensive strategy is to continually strengthen a strongly held current position to build an impregnable fortress capable of repelling attacks by current or future competitors.

Which of the following is the best example of a head-to-head positioning against competitive offerings or potential offerings?

Skimming or early withdrawal strategy may be used when early adopters are willing to pay a high price and demand is price inelastic.

New-to-the-world products are true innovations that are new to the firm and create an entirely new market.

An encirclement strategy makes sense when the market is not fragmented and consists of consumers with homogenous needs.

Followers typically enter a market after the decline phase of life cycle,and they start with low market shares relative to the established pioneers.

Products new to the company but not to the market such as new product lines present greater challenges for R&D than new-to-the world products.

Which of the following strategic elements is a characteristic of successful pioneers?

A market leader,who enjoys high market share in its industry,develops a new brand with a price that is more appealing to a specific segment of its current customers who are already purchasing one of its existing brands.This is an example of the _____ strategy.

Pioneers cannot quickly add line extensions or modifications to their initial product.

If the pioneer's initial product has technical limitations or design flaws,the follower can do little to overcome these weaknesses as the pioneers define the rules of the game.

Which of the following is a market characteristic of a firm following an encirclement strategy?

A challenger should focus on attracting a larger share of potential new customers if the market is:

The Marketing Management Process

The Marketing Implications of Corporate and Business Strategies

Understanding Market Opportunities

Understanding Consumer Buying Behavior

Understanding Organizational Markets and Buying Behavior

Measuring Market Opportunities: Forecasting and Market Knowledge

Targeting Attractive Market Segments

Differentiation and Brand Positioning

Business Strategies: a Foundation for Marketing Program Decisions

Product Decisions

Pricing Decisions

Distribution Channel Decisions

Integrated Promotion Decisions

Marketing Strategies for a Digitally Networked World

Strategies for Mature and Declining Markets

Organizing and Planning for Effective Implementation

Measuring and Delivering Marketing Performance

Filters

Exam 15: Strategies for New and Growing Markets

Which of the following is a major objective of firms following a fortress strategy?

Niche marketing firms are typically characterized by unlimited product engineering skills and resources.

A pioneer stands the best chance for long-term success in market-share leadership and profitability when:

Which of the following is aimed at increasing customers' awareness of a product?

A major difference between a skimming strategy and a mass-market penetration strategy is that:

What are the advantages of being a pioneer in a market?

The most basic defensive strategy is to continually strengthen a strongly held current position to build an impregnable fortress capable of repelling attacks by current or future competitors.

Which of the following is the best example of a head-to-head positioning against competitive offerings or potential offerings?

Skimming or early withdrawal strategy may be used when early adopters are willing to pay a high price and demand is price inelastic.

New-to-the-world products are true innovations that are new to the firm and create an entirely new market.

An encirclement strategy makes sense when the market is not fragmented and consists of consumers with homogenous needs.

Followers typically enter a market after the decline phase of life cycle,and they start with low market shares relative to the established pioneers.

Products new to the company but not to the market such as new product lines present greater challenges for R&D than new-to-the world products.

Which of the following strategic elements is a characteristic of successful pioneers?

A market leader,who enjoys high market share in its industry,develops a new brand with a price that is more appealing to a specific segment of its current customers who are already purchasing one of its existing brands.This is an example of the _____ strategy.

Pioneers cannot quickly add line extensions or modifications to their initial product.

If the pioneer's initial product has technical limitations or design flaws,the follower can do little to overcome these weaknesses as the pioneers define the rules of the game.

Which of the following is a market characteristic of a firm following an encirclement strategy?

A challenger should focus on attracting a larger share of potential new customers if the market is:

The Marketing Management Process

The Marketing Implications of Corporate and Business Strategies

Understanding Market Opportunities

Understanding Consumer Buying Behavior

Understanding Organizational Markets and Buying Behavior

Measuring Market Opportunities: Forecasting and Market Knowledge

Targeting Attractive Market Segments

Differentiation and Brand Positioning

Business Strategies: a Foundation for Marketing Program Decisions

Product Decisions

Pricing Decisions

Distribution Channel Decisions

Integrated Promotion Decisions

Marketing Strategies for a Digitally Networked World

Strategies for Mature and Declining Markets

Organizing and Planning for Effective Implementation

Measuring and Delivering Marketing Performance

Filters