Chapter 18 Marketing Quiz

In the context of identifying competitors strategies, the more that one firm's strategy resembles another firm's strategy, the more likely the two firms are to ___________

compete

Which of the is the best response a company can make to competitive threats?

continuous innovation

Which is NOT one of the four orientations a company may have

cost

A company that is in a good position to identify new opportunities is _______________ company

customer centered

An analysis conducted to determine what benefits target customers value and how they rate the relative value of various competitors offerings is known as ______________

customer value analysis

A company that pursues ______________ will react much more strongly to a competitor's cost of reducing manufacturing breakthrough than to the same competitor's advertising increase

low cost leadership

A runner- up firm that wants to hold its share in an industry without rocking the boat is a _________________

market follower

Sears and Holiday inn encountered difficult times because they did not stand out as the lowest in cost, highest in perceived value , or best in service of their primary target market segment. Both companies are ___________

middle- of the roaders

Walmart, Costco, and Southwest Airlines serve customers who want reliable, good-wuality products or services, but who want them cheaply and easily. These companies are all known for pursing a value discipline known as _______.

operational excellence

When a company provides superior value by leading its industry in price and convenience, it has obtained ____________________

operational excellence