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Chapter 11 dealing with competition labrador

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  • 1. TOP 10 Learning Questions for Chapter 11: Dealing with Competition Tanya Marie C. Labrador September 24, 2010
  • 2. 1. A company is more likely to be hurt by ____________. A. Current competitors B. New technologies C. Emerging competitors D. World-class businesses E. New technologies & emerging competitors
  • 3. Types of emerging giants Current competitors New Technologies Emerging competitors World Class Business
  • 4.
    • In recent years, a no. of new
    • “ emerging giants” have arisen
    • from developing countries,
    • and these nimble competitors
    • are not only competing with
    • multinationals on their home
    • turf but also becoming global
    • forces in their own right.
    A company is more likely to be hurt by new technologies & emerging competitors. Current competitors New Technologies Emerging competitors World Class Business The range of a company’s actual & potential competitors can be much broader than the obvious.
  • 5. 1. A company is more likely to be hurt by ____________. A. Current competitors B. New technologies C. Emerging competitors D. World-class businesses E. New technologies & emerging competitors
  • 6. 2. Companies that satisfy the same customer needs are called ______________.
    • A. Competitive new entrants
    • B. Challenger
    • C. Competitors
    • D. Market opponent
    • E. Business rival
  • 7. Competition can be examined from 2 points of view: INDUSTRY MARKETERS group of firms that offer a product that are close substitutes for one another classify industries according to number of sellers; degree of product differentiation; presence or absence of entry, mobility and exit barriers; cost structure; degree of vertical integration: and degree of globalization
  • 8. Using the Market Approach.. INDUSTRY MARKETERS COMPETITORS are defined as companies that satisfy the same customer need (e.g a customer who buys a word-processing package really wants “writing ability” – a need that can also be satisfied by pencils, pens, or typewriters).
  • 9. 2. Companies that satisfy the same customer needs are called ______________.
    • A. Competitive new entrants
    • B. Challenger
    • C. Competitors
    • D. Market opponent
    • E. Business rival
  • 10. 3. Many factors shape a competitor’s objectives except
    • A. Profits
    • B. Behavior
    • C. Current management & financial situation
    • D. Size and History
    • E. Growth
  • 11. Factors that shape a competitor’s objectives Size History Current Management Financial Situation Growth Profits
  • 12. Factors that shape a competitor’s objectives
    • Once a company has identified its main
    • competitors and their strategies, it must
    • ask the ff. questions:
      • What is each competitor seeking in the marketplace?
      • What drives each competitor’s behavior?
    • Knowing what drives a competitor’s
    • behavior is one step in determining
    • objectives of competitor which does not
    • necessarily mean that BEHAVIOR is a
    • factor that shapes a competitor’s objectives
    Size History Current Management Financial Situation Growth Profits
  • 13. 3. Many factors shape a competitor’s objectives except
    • A. Profits
    • B. Behavior
    • C. Current management & financial situation
    • D. Size and History
    • E. Growth
  • 14. 4. Steps to competitor analysis are the ff. except
    • A. Gather information about a competitor’s strengths & weaknesses
    • B. Identify a company’s main competitors
    • C. Determine objectives of competitors
    • D. Selecting competitor & customers
    • E. None of the above
  • 15. Steps in Competitor Analysis Gather information about a competitor’s strengths & weaknesses Identify a company’s main competitors Determine objectives of competitors Selecting competitor & customers
  • 16. All choices are part of the competitor’s analysis
    • Once a company identifies its primary competitors, it must ascertain their strategies, objectives, strengths and weaknesses
    • Selecting Competitors & Customers come after analyzing strengths and weaknesses of competitors
    Gather competitor’s strengths & weaknesses Identify a company’s main competitors Determine objectives of competitors Selecting competitor & customers
  • 17. 4. Steps to competitor analysis are the ff. except
    • A. Gather information about a competitor’s strengths & weaknesses
    • B. Identify a company’s main competitors
    • C. Determine objectives of competitors
    • D. Selecting competitor & customers
    • E. None of the above
  • 18. 5. Which of the following is true?
    • A. To improve market share, many companies benchmark their most successful competitors, as well as other world-class performers.
    • B. A business interest so small has the ability to control prices in a given industry.
    • C. Market nichers are not required to know their customers well.
    • D. Market challengers should lead the industry in developing new products to overtake the market leader.
    • E. A company must spend all its time focusing on competitors.
  • 19. Benchmarking
    • Any new business entering the same field will judge
    • their overall performance against the standards already
    • in place within the industry to gain more market share
  • 20. 5. Which of the following is true?
    • A. To improve market share, many companies benchmark their most successful competitors, as well as other world-class performers.
    • B. A business interest so small has the ability to control prices in a given industry.
    • C. Market nichers are not required to know their customers well.
    • D. Market challengers should lead the industry in developing new products to overtake the market leader.
    • E. A company must spend all its time focusing on competitors.
  • 21. 6. Which of the following is false?
    • A. Expanding the total market demand would suggest more usage from existing customers as one of its strategies.
    • B. Larger package sizes have shown to increase the amount of product that consumers use at one time resulting to a decrease in frequency of consumption.
    • C. The usage of impulse consumption products such as snacks increases when the product is made more available.
    • D. An opportunity arises when consumers’ perceptions of their usage differs from the reality.
    • E. Market followers should look for new customers or more usage from existing customers.
  • 22. Marketers can try the following to increase consumption Packaging Product Re-design
  • 23. Marketers can try to increase the amount, level, or frequency of consumption Packaging Product Re-design Larger package sizes increase the amount of product that consumers use at one time increasing the frequency of consumption
  • 24. 6. Which of the following is false?
    • A. Expanding the total market demand would suggest more usage from existing customers as one of its strategies.
    • B. Larger package sizes have shown to increase the amount of product that consumers use at one time resulting to a decrease in frequency of consumption.
    • C. The usage of impulse consumption products such as snacks increases when the product is made more available.
    • D. An opportunity arises when consumers’ perceptions of their usage differs from the reality.
    • E. Market followers should look for new customers or more usage from existing customers.
  • 25. 7. Company V discovers a perfect solution to weight loss . Though target customers were not interested in weight loss, they enthusiastically respond to it when launched. The type of marketer company V is called ________.
    • A. Creative
    • B. Reactive
    • C. Responsive
    • D. Anticipative
    • E. Proactive
  • 26. Defending market share
    • Continuous innovation is done by market leaders to defend its terrain
    • It should keep increasing its competitive strength and value to customers by providing comprehensive solutions
  • 27. The ff. are distinction bet. marketers in satisfying customer needs Responsive Anticipative Creative finds a stated need and fills it looks ahead into what needs customers may have in the near future discovers and produces solutions customers did not ask for but to which they enthusiastically respond
  • 28. 7. Company V discovers a perfect solution to weight loss . Though target customers were not interested in weight loss, they enthusiastically respond to it when launched. The type of marketer company V is called ________.
    • A. Creative
    • B. Reactive
    • C. Responsive
    • D. Anticipative
    • E. Proactive
  • 29. 8. Company X matches Company Y’s product, advertising, price & distribution
    • A. Flank attack
    • B. Bypass attack
    • C. Guerilla attack
    • D. Frontal attack
    • E. Encirclement attack
  • 30. Six Defense Strategies
  • 31. The aim of defensive strategy is to reduce the probability of attack, divert attacks to less-threatening areas, and lessen their intensity company matches its opponent’s product, advertising, price & distribution
  • 32. 8. Company X matches Company Y’s product, advertising, price & distribution
    • A. Flank attack
    • B. Bypass attack
    • C. Guerilla attack
    • D. Frontal attack
    • E. Encirclement attack
  • 33.
    • A. Market follower
    • B. Market leader
    • C. Market nichers
    • D. Market player
    • E. Market challenger
    9. Firm B attacks Firm A for further market share. What is Firm B called?
  • 34. Types of “MARKET” that exists in business Market Leader Market Challenger Market Follower Market Nicher
  • 35. Market Leader Market Challenger Market Follower Market Nicher Market challengers can attack the leader and other competitors in an aggressive bid for further market share
  • 36.
    • A. Market follower
    • B. Market leader
    • C. Market nichers
    • D. Market player
    • E. Market challenger
    9. Firm B attacks Firm A for further market share. What is Firm B called?
  • 37. 10. Chewing gum manufacturers are producing nutraceutical products to strengthen or whiten teeth and launch gums with health and cosmetic benefits.
    • A. Product innovation
    • B. Product development
    • C. Product specialization
    • D. Product re-engineering
    • E. Product redesigning
  • 38. Marketers can try the following to increase consumption Packaging Product Re-design
  • 39. Marketers can try the following to increase consumption Packaging Product Re-design Product development is creation of products with new or different characteristics that offer new or additional benefits to the customer. It may involve modification of an existing product or its presentation.
  • 40. 10. Chewing gum manufacturers are producing nutraceutical products to strengthen or whiten teeth and launch gums with health and cosmetic benefits.
    • A. Product innovation
    • B. Product development
    • C. Product specialization
    • D. Product re-engineering
    • E. Product redesigning
  • 41. TOP 10 Learning Questions for Chapter 11: Dealing with Competition Tanya Marie C. Labrador September 24, 2010