Chapter 11 questions

1. Chapter 11:Dealing with Competition Maritess Velez Marketing Management September 02, 2010

2. 1. _____ is a group of firms following the same strategy in a given target market Strategic group Competitive strategy Competitor Market Leaders

3. Strategic Group - a group of firms following the same strategy in a given target market Competitive Strategy - a condition which enables a company to operate in a more efficient or otherwise higher quality manner than the companies it competes with Competitor - a business that provides similar products or services Market Leader - brand, product or firm that has the largest percentage of market share

4. 1. _____ is a group of firms following the same strategy in a given target market Strategic group Competitive strategy Competitor Market Leaders

5. 2. Which is not a variable that a company should monitor when analyzing competitors? Share ofMind Share of Market Share of Voice Share of Heart

6. There are only three variables when analyzing competitors: 1. Share of Mind 2. Share of Market 3. Share of Heart

7. 2. Which is not a variable that a company should monitor when analyzing competitors? Share ofMind Share of Market Share of Strategy Share of Heart

8. 3. True or False. When the total market expands, the dominant firm usually gain the most.

9. 3. True or False. When the total market expands, the dominant firm usually gain the most. True

10. 4. _____ means occupying the most desirable market space in consumer’s minds, making the brand almost impregnable Flank Defense PreemptiveDefense Counteroffensive Defense Position Defense

11. Flank defense - when a market leader erect outposts to protect a weak front or possibly serve as an invasion base for counterattack Preemptivedefense - an attack before the enemy starts its offense Counteroffensive defense - when a leader can meet the attacker frontally or hit its flank or launch a pincer movement Position defense - occupying the most desirable market space in consumer’s minds, making the brand almost impregnable

12. 4. _____ means occupying the most desirable market space in consumer’s minds, making the brand almost impregnable Flank Defense PreemptiveDefense Counteroffensive Defense Position Defense

13. 5. A market leader has the _____market share in the _____product market. Largest ; Irrelevant Smallest ; Irrelevant Largest ; Relevant Smallest ; Relevant

14. 5. A market leader has the _____market share in the _____product market. Largest ; Irrelevant Smallest ; Irrelevant Largest ; Relevant Smallest ; Relevant

15. 6. True or False. A market follower is a runner-up firm willing to maintain its market share and rock the boat.

16. 6. True or False. A market follower is a runner-up firm willing to maintain its market share and rock the boat. False

17. 7. After the company conducted value analysis and examined competitors carefully, it can focus its attack on one of the following, except: Right vs wrong Strong vs weak Close vs distant Good vs bad

18. 7. After the company conducted value analysis and examined competitors carefully, it can focus its attack on one of the following, except: Right vs wrong Strong vs weak Close vs distant Good vs bad

19. 8. _____ is the percentage of customers who named the competitor in responding to the statement “Name the company from which you would prefer to buy the product” Share of Market Share of Mind Share of Heart All of the above

20. Share of Market - the percentage of the total sales of a given type of product or service that are attributable to a given company Share of Mind - the percentage of customers who named the competitors in responding to the statement “Name the first company that comes to mind in this industry” Share of Heart - the percentage of customers who named the competitor in responding to the statement “Name the company from which you would prefer to buy the product”

21. 8. _____ is the percentage of customers who named the competitor in responding to the statement “Name the company from which you would prefer to buy the product” Share of Market Share of Heart Share of Mind All of the above

22. 9. _____ duplicates the leader’s product and packages and sells it on the black market or through disreputable dealers. Cloner Imitator Adapter Counterfeiter

23. Cloner - emulates the leader’s products, name and packaging with slight variations Imitator - copies some things from the leader but maintains differentiation in terms of packaging, advertising, pricing or location Adapter - takes the leader’s products and adapts or improves them Counterfeiter - duplicates the leader’s product and packages and sells it on the black market or through disreputable dealers

24. 9. _____ duplicates the leader’s product and packages and sells it on the black market or through disreputable dealers. Cloner Imitator Adapter Counterfeiter

25. 10. True or False. A market nicher serves small market segments not being served by larger firms.

26. 10. True or False. A market nicher serves small market segments not being served by larger firms. True