MKTG Chapter 3 T/F

An integrated group is a group of firms in an industry following the same or similar strategy in a given target market

False

Most companies prefer to compete against strong competitors

False

A company may want to avoid trying to "destroy" a close competitor.

True

Gary Hirshberg started the Stonyfield Farm yogurt company. His marketing strategy: building a strong connection with customers using guerilla marketing. This is an example of formulated marketing.

False

FedEx is rare because it excels at more than one value discipline

True

Market leaders can grow by increasing their market shares further.

True

All companies choose one marketing strategy for their different businesses or products..

False

An example of competitor myopia was when Fujifilm sales unsuspectingly surpassed those of Kodak

False

Apple's iTunes Music Store is a good competitor, one that plays by its own rules at the expense of the industry as a whole

False

Approaches to marketing strategy and practice often pass through three stages: entrepreneurial marketing, formulated marketing, and strategic marketing.

False

Continuous innovation is the process of comparing the company's products and processes to those of competitors or leading firms in other industries to find ways to improve quality and performance

False

Most companies tend to compete with distant competitors, who are those competitors most unlike them, rather than with close competitors.

False

The goal of a "red ocean strategy" is to make competition irrelevant

False

To plan effective marketing strategies, the company needs to find out all it can about its employees

False

A company can become so competitor centered that it loses its even more important focus on maintaining profitable customer relationships.

True

A company really needs and benefits from competitors

True

A competitive analysis involves first identifying and assessing competitors and then selecting which competitors to attack or avoid

True

At the narrowest level, a company can define its competitors as other companies offering similar products and services to the same customers at similar prices

True

Business-to-business marketers find it hard to estimate competitors' market shares because they do not have the same syndicated data services that are available to consumer packaged -goods companies

True

By trying to be good at all of the value disciplines, a company usually ends up being best at none.

True

Many firms avoid direct competition with Procter & Gamble and look for easier prey, knowing that Procter & Gamble will react fiercely if challenged

True

Many large and mature companies get stuck in formulated marketing. They pore over the latest Nielsen numbers, scan market research reports, and try to fine-tune their competitive strategies and programs

True

One reason companies really need competitors is because competitors may help increase total demand

True

Small firms that can't afford a competitive intelligence system often resort to using "in-house" experts to study competitors

True

The competitive intelligence system of a company supplies key information to relevant decision makers about the company's competitors.

True