Question 1

A good competitor plays by its own rules at the expense of the industry as a whole.

Accepted Answer

A) True 
 B)False

Question 2

According to Michael Porter, what are three effective competitive positioning strategies?

Accepted Answer

A)  middle-of-the-roaders, focus, and overall cost leadership 
B)  focus, differentiation, and middle-of-the-roaders 
C)  overall cost leadership, differentiation, and middle-of-the-roaders 
D)  overall cost leadership, differentiation, and focus 
E)  differentiation, market segmentation, and focus 
A)  middle-of-the-roaders, focus, and overall cost leadership 
B)  focus, differentiation, and middle-of-the-roaders 
C)  overall cost leadership, differentiation, and middle-of-the-roaders 
D)  overall cost leadership, differentiation, and focus 
E)  differentiation, market segmentation, and focus

Question 3

Entrepreneurial marketing exclusively involves developing formal marketing strategies and adhering to them closely.

Accepted Answer

A) True 
 B)False

Question 4

Give examples of competitor objectives and discuss the importance of knowing a competitor's mix of objectives.

Accepted Answer

Each competitor has a mix of objectives.

Question 5

Competitive exchanges such as comparison advertisements can provide useful information to consumers and advantages from brands. However, they also might reflect negatively on the entire industry.

Accepted Answer

A) True 
 B)False

Question 6

What is the purpose of benchmarking?

Accepted Answer

A company uses benchmarking to

Question 7

Describe a strategic group. Name a few companies that belong to the same strategic group, and discuss why they are in the same group.

Accepted Answer

A strategic group is a group of firms in

Question 8

To plan effective marketing strategies, the company must ignore its competitors.

Accepted Answer

A) True 
 B)False

Question 9

What is the primary focus of a competitor-centered company?

Accepted Answer

A competitor-centered company

Question 10

Most companies prefer to compete against strong competitors.

Accepted Answer

A) True 
 B)False

Question 11

Explain how the United States Postal Service has "competitor myopia."

Accepted Answer

The U.S. Postal Service loses billions o

Question 12

Companies in competition within a strategic group do not compete with other strategic groups.

Accepted Answer

A) True 
 B)False

Question 13

Each competitor has a mix of objectives. The company wants to know the relative importance that a competitor places on all of the following EXCEPT ________.

Accepted Answer

A)  company history 
B)  current profitability 
C)  market share growth 
D)  cash flow 
E)  technological leadership 
A)  company history 
B)  current profitability 
C)  market share growth 
D)  cash flow 
E)  technological leadership

Question 14

Discuss why a company really needs and benefits from competitors.

Accepted Answer

The existence of competitors results in

Question 15

Firms competing in a given target market, at any point in time, are similar in their objectives and resources.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is a market leader strategy?

Accepted Answer

A)  expanding market share 
B)  multiple niching 
C)  full frontal attack 
D)  following at a distance 
E)  following closely 
A)  expanding market share 
B)  multiple niching 
C)  full frontal attack 
D)  following at a distance 
E)  following closely

Question 17

The goal of performing a competitor analysis is to ________.

Accepted Answer

A)  learn more about the competitors' sales structures 
B)  find flaws in the competitors' manufacturing processes 
C)  copy the best features that the competitors offer 
D)  find areas of potential competitive advantage and disadvantage 
E)  develop products in markets that the competitors are not in 
A)  learn more about the competitors' sales structures 
B)  find flaws in the competitors' manufacturing processes 
C)  copy the best features that the competitors offer 
D)  find areas of potential competitive advantage and disadvantage 
E)  develop products in markets that the competitors are not in

Question 18

The competitive intelligence system does all of the following EXCEPT ________.

Accepted Answer

A)  sends relevant information to decision makers and responds to inquiries from managers 
B)  takes action against the competitors once the data has been analyzed 
C)  collects information from the field and published data 
D)  checks the information for validity, interprets it, and organizes it 
E)  identifies vital types of competitive information needed and the best sources 
A)  sends relevant information to decision makers and responds to inquiries from managers 
B)  takes action against the competitors once the data has been analyzed 
C)  collects information from the field and published data 
D)  checks the information for validity, interprets it, and organizes it 
E)  identifies vital types of competitive information needed and the best sources

Question 19

Whereas the mass marketer achieves ________, the nicher achieves ________.

Accepted Answer

A)  low margins; low volume 
B)  low volume; high margins 
C)  high volume; high margins 
D)  high volume; low margins 
E)  high margins; high volume 
A)  low margins; low volume 
B)  low volume; high margins 
C)  high volume; high margins 
D)  high volume; low margins 
E)  high margins; high volume

Question 20

An example of a company exhibiting a blue ocean strategy is ________.

Accepted Answer

A)  Amazon's online shopping convenience 
B)  a Starbucks opening in the same vicinity of an independent coffee house 
C)  Nike's brand image of the "swoosh" 
D)  Whirlpool's full line of medium-priced, energy-saving appliances 
E)  the first digital tablet iPad released by Apple 
A)  Amazon's online shopping convenience 
B)  a Starbucks opening in the same vicinity of an independent coffee house 
C)  Nike's brand image of the "swoosh" 
D)  Whirlpool's full line of medium-priced, energy-saving appliances 
E)  the first digital tablet iPad released by Apple

A good competitor plays by its own rules at the expense of the industry as a whole.

According to Michael Porter, what are three effective competitive positioning strategies?

Entrepreneurial marketing exclusively involves developing formal marketing strategies and adhering to them closely.

Give examples of competitor objectives and discuss the importance of knowing a competitor's mix of objectives.

Competitive exchanges such as comparison advertisements can provide useful information to consumers and advantages from brands. However, they also might reflect negatively on the entire industry.

What is the purpose of benchmarking?

Describe a strategic group. Name a few companies that belong to the same strategic group, and discuss why they are in the same group.

To plan effective marketing strategies, the company must ignore its competitors.

What is the primary focus of a competitor-centered company?

Most companies prefer to compete against strong competitors.

Explain how the United States Postal Service has "competitor myopia."

Companies in competition within a strategic group do not compete with other strategic groups.

Each competitor has a mix of objectives. The company wants to know the relative importance that a competitor places on all of the following EXCEPT ________.

Discuss why a company really needs and benefits from competitors.

Firms competing in a given target market, at any point in time, are similar in their objectives and resources.

Which of the following is a market leader strategy?

The goal of performing a competitor analysis is to ________.

The competitive intelligence system does all of the following EXCEPT ________.

Whereas the mass marketer achieves , the nicher achieves .

An example of a company exhibiting a blue ocean strategy is ________.

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 18: Creating Competitive Advantage

A good competitor plays by its own rules at the expense of the industry as a whole.

According to Michael Porter, what are three effective competitive positioning strategies?

Entrepreneurial marketing exclusively involves developing formal marketing strategies and adhering to them closely.

Give examples of competitor objectives and discuss the importance of knowing a competitor's mix of objectives.

Competitive exchanges such as comparison advertisements can provide useful information to consumers and advantages from brands. However, they also might reflect negatively on the entire industry.

What is the purpose of benchmarking?

Describe a strategic group. Name a few companies that belong to the same strategic group, and discuss why they are in the same group.

To plan effective marketing strategies, the company must ignore its competitors.

What is the primary focus of a competitor-centered company?

Most companies prefer to compete against strong competitors.

Explain how the United States Postal Service has "competitor myopia."

Companies in competition within a strategic group do not compete with other strategic groups.

Each competitor has a mix of objectives. The company wants to know the relative importance that a competitor places on all of the following EXCEPT ________.

Discuss why a company really needs and benefits from competitors.

Firms competing in a given target market, at any point in time, are similar in their objectives and resources.

Which of the following is a market leader strategy?

The goal of performing a competitor analysis is to ________.

The competitive intelligence system does all of the following EXCEPT ________.

Whereas the mass marketer achieves ________, the nicher achieves ________.

An example of a company exhibiting a blue ocean strategy is ________.

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Whereas the mass marketer achieves , the nicher achieves .