Chapter 11 dealing with competition labrador
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This document provides a summary of key learning questions from a chapter on dealing with competition. It discusses different types of competitors like current competitors, emerging giants from developing countries, and new technologies. It also covers factors that shape a competitor's objectives, steps to competitor analysis, different types of marketers like market leaders and challengers, and strategies companies can use to increase consumption like product development and redesign.
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3) Business buyers ______________.
A. are geographically as diverse as consumers
B. tend to be geographically concentrated with over half of them in seven states
C. are largely concentrated in the southwestern United States
D. use geographical dispersion to keep shipping costs low
4) Toyota, the maker of the Scion brand, is using what kind of brand strategy wi
MKT 571 Final Exam Answers 2015 version
MKT 571 Final Exam Answers
1) Which of the following is most closely associated with a proactive marketing orientation?
A. It involves delivering superior value.
B. It is about understanding and meeting customers’ expressed needs.
C. It represents the “make and sell” philosophy.
D. The marketer focuses on the customers’ latent or hidden needs.
2) Marketing __________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
A. internally
B. management
C. segmentation
D. integration
3) Business buyers ______________.
A. are geographically as diverse as consumers
B. tend to be geographically concentrated with over half of them in seven states
C. are largely concentrated in the southwestern United States
D. use geographical dispersion to keep shipping costs low
4) Toyota, the maker of the Scion brand, is using what kind of brand strategy wi
MKT 571 Final Exam Answers 2015 version
MKT 571 Final Exam Answers
1) Which of the following is most closely associated with a proactive marketing orientation?
A. It involves delivering superior value.
B. It is about understanding and meeting customers’ expressed needs.
C. It represents the “make and sell” philosophy.
D. The marketer focuses on the customers’ latent or hidden needs.
2) Marketing __________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
A. internally
B. management
C. segmentation
D. integration
3) Business buyers ______________.
A. are geographically as diverse as consumers
B. tend to be geographically concentrated with over half of them in seven states
C. are largely concentrated in the southwestern United States
D. use geographical dispersion to keep shipping costs low
4) Toyota, the maker of the Scion brand, is using what kind of brand strategy wi
MKT 571 Final Exam Answers 2015 version
MKT 571 Final Exam Answers
1) Which of the following is most closely associated with a proactive marketing orientation?
A. It involves delivering superior value.
B. It is about understanding and meeting customers’ expressed needs.
C. It represents the “make and sell” philosophy.
D. The marketer focuses on the customers’ latent or hidden needs.
2) Marketing __________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
A. internally
B. management
C. segmentation
D. integration
3) Business buyers ______________.
A. are geographically as diverse as consumers
B. tend to be geographically concentrated with over half of them in seven states
C. are largely concentrated in the southwestern United States
D. use geographical dispersion to keep shipping costs low
4) Toyota, the maker of the Scion brand, is using what kind of brand strategy wi
MKT 571 Final Exam Answers 2015 version
MKT 571 Final Exam Answers
1) Which of the following is most closely associated with a proactive marketing orientation?
A. It involves delivering superior value.
B. It is about understanding and meeting customers’ expressed needs.
C. It represents the “make and sell” philosophy.
D. The marketer focuses on the customers’ latent or hidden needs.
2) Marketing __________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
A. internally
B. management
C. segmentation
D. integration
3) Business buyers ______________.
A. are geographically as diverse as consumers
B. tend to be geographically concentrated with over half of them in seven states
C. are largely concentrated in the southwestern United States
D. use geographical dispersion to keep shipping costs low
4) Toyota, the maker of the Scion brand, is using what kind of brand strategy wi
MKT 571 Final Exam Answers 2015 version
MKT 571 Final Exam Answers
1) Which of the following is most closely associated with a proactive marketing orientation?
A. It involves delivering superior value.
B. It is about understanding and meeting customers’ expressed needs.
C. It represents the “make and sell” philosophy.
D. The marketer focuses on the customers’ latent or hidden needs.
2) Marketing __________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
A. internally
B. management
C. segmentation
D. integration
3) Business buyers ______________.
A. are geographically as diverse as consumers
B. tend to be geographically concentrated with over half of them in seven states
C. are largely concentrated in the southwestern United States
D. use geographical dispersion to keep shipping costs low
4) Toyota, the maker of the Scion brand, is using what kind of brand strategy wi
MKT 571 Final Exam Answers 2015 version
MKT 571 Final Exam Answers
1) Which of the following is most closely associated with a proactive marketing orientation?
A. It involves delivering superior value.
B. It is about understanding and meeting customers’ expressed needs.
C. It represents the “make and sell” philosophy.
D. The marketer focuses on the customers’ latent or hidden needs.
2) Marketing __________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
A. internally
B. management
C. segmentation
D. integration
3) Business buyers ______________.
A. are geographically as diverse as consumers
B. tend to be geographically concentrated with over half of them in seven states
C. are largely concentrated in the southwestern United States
D. use geographical dispersion to keep shipping costs low
4) Toyota, the maker of the Scion brand, is using what kind of brand strategy wi
MKT 571 Final Exam Answers 2015 version
MKT 571 Final Exam Answers
1) Which of the following is most closely associated with a proactive marketing orientation?
A. It involves delivering superior value.
B. It is about understanding and meeting customers’ expressed needs.
C. It represents the “make and sell” philosophy.
D. The marketer focuses on the customers’ latent or hidden needs.
2) Marketing __________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
A. internally
B. management
C. segmentation
D. integration
3) Business buyers ______________.
A. are geographically as diverse as consumers
B. tend to be geographically concentrated with over half of them in seven states
C. are largely concentrated in the southwestern United States
D. use geographical dispersion to keep shipping costs low
4) Toyota, the maker of the Scion brand, is using what kind of brand strategy wi
MKT 571 Final Exam Answers 2015 version
MKT 571 Final Exam Answers
1) Which of the following is most closely associated with a proactive marketing orientation?
A. It involves delivering superior value.
B. It is about understanding and meeting customers’ expressed needs.
C. It represents the “make and sell” philosophy.
D. The marketer focuses on the customers’ latent or hidden needs.
2) Marketing __________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
A. internally
B. management
C. segmentation
D. integration
3) Business buyers ______________.
A. are geographically as diverse as consumers
B. tend to be geographically concentrated with over half of them in seven states
C. are largely concentrated in the southwestern United States
D. use geographical dispersion to keep shipping costs low
4) Toyota, the maker of the Scion brand, is using what kind of brand strategy wi
MKT 571 Final Exam Answers 2015 version
MKT 571 Final Exam Answers
1) Which of the following is most closely associated with a proactive marketing orientation?
A. It involves delivering superior value.
B. It is about understanding and meeting customers’ expressed needs.
C. It represents the “make and sell” philosophy.
D. The marketer focuses on the customers’ latent or hidden needs.
2) Marketing __________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
A. internally
B. management
C. segmentation
D. integration
3) Business buyers ______________.
A. are geographically as diverse as consumers
B. tend to be geographically concentrated with over half of them in seven states
C. are largely concentrated in the southwestern United States
D. use geographical dispersion to keep shipping costs low
4) Toyota, the maker of the Scion brand, is using what kind of brand strategy wi
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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
- 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
- 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).
- 11. Factors that shape a competitor’s objectives Size History Current Management Financial Situation Growth Profits
- 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
- 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
- 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
- 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
- 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
- 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.
- 41. TOP 10 Learning Questions for Chapter 11: Dealing with Competition Tanya Marie C. Labrador September 24, 2010