Question 1

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

Accepted Answer

The answer of When "petroleum" companies such as BP sought...

Question 2

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.
A)responsive
B)anticipative
C)combative
D)manipulative
E)creative

Accepted Answer

The statement highlights a marketer who goes above and beyond what customers have explicitly asked for and instead creates innovative solutions that the customers embrace enthusiastically. This type of marketer is often called a creative marketer. Sony's history of introducing iconic products like the Walkman and PlayStation, which customers did not know they needed until they saw them, makes them an excellent example of a creative marketer. Therefore, option E is the correct choice.

Question 3

What factors contribute to increasing the bargaining power of buyers?

Accepted Answer

The answer of What factors contribute to increasing the bargaining...

Question 4

In 2006,Sara Lee spun off products that accounted for almost 40% of the company's revenues,including its strong Hanes hosiery brand,so it could concentrate on its well-known food brands.In this example,Sara Lee is employing a ________ strategy.
A)preemptive defense
B)counteroffensive defense
C)mobile defense
D)flank defense
E)contraction defense

Accepted Answer

Sara Lee is employing a contraction defense strategy by divesting its non-core businesses and focusing on its primary business units (food brands).

Question 5

Identify the two requirements that must be satisfied to create a successful low-cost operation.

Accepted Answer

The answer of Identify the two requirements that must be...

Question 6

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 answer of According to information provided in Michael Porter's...

Question 7

The TelePizza chain,which operates in Europe and Latin America,has copied Domino's service model but maintains differentiation in terms of location.TelePizza is an example of a(n)________.
A)counterfeiter
B)adopter
C)cloner
D)imitator
E)adapter

Accepted Answer

The answer of The TelePizza chain,which operates in Europe and...

Question 8

What factors contribute to increasing the bargaining power of suppliers?

Accepted Answer

The answer of What factors contribute to increasing the bargaining...

Question 9

If your company monitors competitive "share of mind," what is your company monitoring?

Accepted Answer

The answer of If your company monitors competitive "share of...

Question 10

You have been asked to evaluate a strategic group in your industry.What is a strategic group? What two important insights should emerge from your formulation process?

Accepted Answer

The answer of You have been asked to evaluate a...

Question 11

A niche firm that specializes in customizing its products for individual customers is known as a ________.
A)job-shop specialist
B)customer-size specialist
C)specific-customer specialist
D)channel specialist
E)vertical-level specialist

Accepted Answer

A job-shop specialist is a type of firm that specializes in customizing its products for individual customers. They typically offer a wide variety of products and services that can be tailored to meet the specific needs of their clients. This type of firm is often found in industries such as manufacturing, construction, and engineering, where complex projects require a high degree of customization and flexibility.

Question 12

A ________ is another name for identifying shifts in market segments that are causing gaps to develop,then rushing in to fill the gaps and develop them into strong segments.
A)frontal attack strategy
B)flanking strategy
C)encircling strategy
D)counteroffensive strategy
E)bypass strategy

Accepted Answer

Flanking strategy is focused on identifying gaps in the market segments and developing them into strong segments by rushing in to fill those gaps before competitors can. The other options listed are not specific to identifying and filling gaps in market segments.

Question 13

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

Accepted Answer

Microsoft is using preemptive defense by announcing its plans for a new product development, thereby discouraging smaller firms from entering into head-to-head competition in the same space.

Question 14

Your marketing manager has asked you to develop a new customer strategy for your company.Additionally,you have been asked to develop,specifically,a market-penetration strategy to assist in gaining new customers.Describe a market-penetration strategy in this context.

Accepted Answer

The answer of Your marketing manager has asked you to...

Question 15

What differentiates a "good" competitor from a "bad" one?

Accepted Answer

The answer of What differentiates a "good" competitor from a...

Question 16

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

Accepted Answer

The answer of How should a company deal with customers...

Question 17

Tasteeos,Fruit Rings,and Corn Flakes sell for nearly $1 a box less than leading cereal brands.Which market follower strategy is being employed by the cereal manufacturer?
A)Counterfeiter
B)Cloner
C)Imitator
D)Adapter
E)Reverse innovator

Accepted Answer

The answer of Tasteeos,Fruit Rings,and Corn Flakes sell for nearly...

Question 18

Clorox runs ads stressing the many benefits of its bleach,such as how it eliminates kitchen odors,in order to generate additional opportunities to use the brand in the same basic way.This is an attempt to ________.
A)increase the amount of consumption
B)increase the level of consumption
C)increase the perception of consumption
D)increase the frequency of consumption
E)increase the emotional implications of consumption

Accepted Answer

The ad is trying to encourage consumers to use Clorox bleach more often by stressing its benefits, thereby increasing the frequency of consumption.

Question 19

All of the following suggestions have been provided by Adam Morgan for improving small brands' success in competing with larger rivals EXCEPT ________.
A)break with your immediate past
B)build a "lighthouse identity"
C)assume thought leadership of the category
D)create symbols of reevaluation
E)deeply discount products and services

Accepted Answer

The suggestion to deeply discount products and services is not one of Adam Morgan's suggestions for improving small brands' success in competing with larger rivals. Instead, he emphasizes the importance of developing a unique identity, taking on a leadership role in the category, and creating symbols of reevaluation to disrupt the status quo.

Question 20

According to information provided in Michael Porter's model that describes segment structural attractiveness,the threat of mobility can be encountered.In which of the five forces described by Porter would such a threat occur?

Accepted Answer

The answer of According to information provided in Michael Porter's...

Quiz 11: Dealing With Competition

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.

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.

What factors contribute to increasing the bargaining power of buyers?

In 2006,Sara Lee spun off products that accounted for almost 40% of the company's revenues,including its strong Hanes hosiery brand,so it could concentrate on its well-known food brands.In this example,Sara Lee is employing a ________ strategy.

Identify the two requirements that must be satisfied to create a successful low-cost operation.

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?

The TelePizza chain,which operates in Europe and Latin America,has copied Domino's service model but maintains differentiation in terms of location.TelePizza is an example of a(n) ________.

What factors contribute to increasing the bargaining power of suppliers?

If your company monitors competitive "share of mind," what is your company monitoring?

You have been asked to evaluate a strategic group in your industry.What is a strategic group? What two important insights should emerge from your formulation process?

A niche firm that specializes in customizing its products for individual customers is known as a ________.

A ________ is another name for identifying shifts in market segments that are causing gaps to develop,then rushing in to fill the gaps and develop them into strong segments.

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.

Your marketing manager has asked you to develop a new customer strategy for your company.Additionally,you have been asked to develop,specifically,a market-penetration strategy to assist in gaining new customers.Describe a market-penetration strategy in this context.

What differentiates a "good" competitor from a "bad" one?

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

Tasteeos,Fruit Rings,and Corn Flakes sell for nearly $1 a box less than leading cereal brands.Which market follower strategy is being employed by the cereal manufacturer?

Clorox runs ads stressing the many benefits of its bleach,such as how it eliminates kitchen odors,in order to generate additional opportunities to use the brand in the same basic way.This is an attempt to ________.

All of the following suggestions have been provided by Adam Morgan for improving small brands' success in competing with larger rivals EXCEPT ________.

According to information provided in Michael Porter's model that describes segment structural attractiveness,the threat of mobility can be encountered.In which of the five forces described by Porter would such a threat occur?