Chapter 18 Quiz
According to Michael Porter, what are three effective competitive positioning strategies? A. differentiation, market segmentation, and focus B. overall cost leadership, differentiation, and focus C. overall cost leadership, differentiation, and middle-of-the-roaders D. focus, differentiation, and middle-of-the-roaders E. middle-of-the-roaders, focus, and overall cost leadership
B. overall cost leadership, differentiation, and focus
As part of the competitive analysis process, a firm might compare itself against other firms, comparing the company's products and processes to those of competitors or leading firms in other industries to identify best practices and find ways to improve quality and performance. What is this process called? A. SWOT analysis B. Performance analysis C. Benchmarking D. Market differentiation E. Competitive intelligence
C. Benchmarking
________ 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. A. Segmenting B. Sales promotion C. Benchmarking D. Publicity E. Positioning
C. Benchmarking
American Express will do almost anything to build long-term customer loyalty and to capture customer lifetime value. Which of the following competitive marketing strategies is being pursued by American Express? A. product leadership B. customer equity C. customer intimacy D. consumer capitalism E. product differentiation
C. customer intimacy
A company that pursues ________ will react much more strongly to a competitor's cost reducing manufacturing breakthrough than to the same competitor's advertising increase. A. customer intimacy B. product leadership C. low-cost leadership D. product differentiation E. a middle-of-the-roaders strategy
C. low-cost leadership
Most competitors in the music download industry see Apple's iTunes Music Store as a ________ because it created a closed system with mass appeal. A. good competitor B. weak competitor C. distant competitor D. bad competitor E. marginal competitor
D. bad competitor
Firms that serve small segments not being pursued by other firms are called ________. A. market challengers B. market leaders C. market followers D. market nichers E. market mavens
D. market nichers
A company's close competitors are ________. A. a serious threat and hence, must be attacked rather than ignored B. typically ignored as they seldom pose any threat C. the sole focus of successful companies D. those that most resemble the company's operations E. considered "bad" competitors
D. those that most resemble the company's operations
The first step in initiating competitive marketing strategies is to ________. A. balance customer and competitor orientations B. assess long-term organizational objectives C. design broad competitive marketing strategies D. conduct transaction analysis E. conduct competitor analysis
E. conduct competitor analysis
Which of the following conditions would enable higher market share to produce higher profits? A. when production volume drops as market share increases B. when the company fails to break even C. when unit costs increase as market share increases D. when production volume remains unaltered as market share increases E. when unit costs drop as market share increases
E. when unit costs drop as market share increases
