general business data bank

.0pt;text-align:justify;text-indent:
-18.0pt;mso-list:l1 level1 lfo1;tab-stops:list 18.0pt left 36.0pt 108.0pt 216.0pt”>1. Which of the following tennis shoe companies is considered to be a market nicher? a. New Balanceb. Adidasc. Reebokd. Wal-Mart brand tennis shoese. Nike 2. In terms of comparisons with a market leader, whereas the market
leader achieves high volume, the market nicher achieves ________. a. high marginb. low marginc. high promotabilityd. medium pricinge. lower demand 3. The key idea in
successful nichemanship is specialization. Which of the following specialists
would most closely be identified
with the characterization of being an organization that limits its selling to
one customer? a. End-user
specialistb. Vertical-level
specialistc. Customer-size
specialistd. Specific-customer
specialiste. Quality-price
specialist 4.
A market nicher is considered to be a ________
specialist if the firm specializes in producing a certain type of product or
product feature such as Rent-a-Wreck that rents only “beat-up” cars. a.
end-user b.
vertical-levelc.
customer-sized.
channel e. product-feature 5. Which of the following strategies
for entering a market held by incumbent firms would be best if the desire was
to position away from the dominant brand with a comparable
or premium price and heavy advertising spending to establish the new brand as a
credible alternative? a.
Differentiation
b.
Challengerc.
Niched.
Premiume.
Standard 6. Which of the following types of companies is characterized as having a “fighter
orientation”? a. Customer-centeredb. Competitor-centeredc. Distribution-centeredd. Promotion-centerede. Niche-centered

7. Which of the following types of companies is characterized as being “too reactive”? a. Competitor-centeredb. Customer-centeredc. Service-centeredd. Distribution-centerede. Niche-centered 8. Which of the following types of companies is felt to be in a better position to
identify new opportunities? a. Competitor-centered
b. Consumer-centeredc. Nicher-centeredd. Distribution-centered e. Organization-centered 9. In a ________ company,
the obsession of the company is with
the customer, not the competition. a. niche-centeredb. price-centeredc. cost-centered d. customer-centerede. promotion-centered True/False 10. Markets have become too competitive to just focus on the consumer alone. 11. A market is
unattractive if it already contains numerous, strong, or aggressive competitors. 12. The most
attractive segment is one in which the entry barriers are low and exit barriers
are high. 13. Many businesses have failed to look to the
Internet for their most formidable
competitors.

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14. An industry is a group of firms that offer
a product or class of products that are close substitutes for one another. 15. In a pure monopoly,
a small number of large firms produce products that range from highly
differentiated to standardized. 16. In monopolistic
competition, competitor’s focus on market segments where they can
meet customers’ needs in a superior way and command a price premium. 17. Good illustrations of entry barriers into a
market might be legal or moral
obligations to customers, creditors, and employees,
high vertical integration, and emotional
barriers. 18. Vertical integration means that a
product manufacturer enters into an alliance with another similar manufacturer
to achieve volume discounts in storage or shipping from a third party. 70. Using
a market approach, competitors are
companies that satisfy the same
customer need. 71. A competitor
map shows the sales volume of various competitors
in a market space. 72. A group of firms following the
same strategy in a given target market is called a strategic alliance. 73. The competitor’s
share of a target market is called the share of market. 74. Share of heart is the percentage of customers who named the competitor in responding to the statement, “Name the
first company that comes to mind in
this industry.” 75. As a strategy for expanding the total market, a market-penetration
strategy is aimed at consumers who might use the product but do not at
present. 76. The most
constructive strategy that a market leader can use to defend its terrain is to
follow the path of “attack before they do.”
77. If a market leader
follows a strategy of continuous innovation, it keeps
increasing its competitive strength
and value to its customers. 78. Position defense involves occupying the most desirable market space in the minds of
consumers, making the brand almost impregnable. 79. A preemptive defense is
basically a strategic retreat until resources can be assembled for a more advantageous attack. 80. A good way of describing a
contraction defense would be to label it a strategic withdrawal. 81. The market leader should
consider several factors before pursuing increased market share. One of the chief factors for consideration is
the effect of increased market share on actual and perceived quality. 82. After the market leader
position, firms that occupy second, third, and lower ranks
in an industry are often called fledgling leaders. 83.
The first step that a market challenger must take in establishing its stance
against competitors is to define its
strategic objective. 84. The frontal attack by a market
challenger looks for weak spots on
the fringe of the opponent’s defenses because these are natural targets. 85. The most indirect assault
strategy that can be used by a market challenger is the bypass attack where the
challenger bypasses the enemy and attacks
easier markets to broaden one’s resource base. 86. The
encirclement attack by a market challenger consists of waging small,
intermittent attacks to harass and
demoralize the opponent and
eventually secure permanent footholds. 87. Prestige
goods is a specific attack strategy that a market challenger can launch for
a higher-quality product and charge a higher price than the market leader. 88. According to
an article by Theodore Levitt (“Innovative Imitation”), product innovation is
always a more profitable strategy
than product imitation. 89.As one of the market follower strategies, counterfeiting
duplicates the leader’s product and package and sells it on the black market or
through disreputable dealers. 90. As a market follower strategy, the adapter
emulates the leader’s products, name, and packaging with slight
variations. 91.Atypical market challenger strategy
is that of being an imitator (e.g., copies some things from the leader but
maintains differentiation in terms of packaging, advertising, pricing, or
location). 92. In a study of hundreds of business units, the
Strategic Planning Institute found that the return on investment (ROI) averaged
27 percent in smaller markets, but only 11 percent in larger markets. 93. One of the chief advantages held by a
market nicher is the fact that once a niche is established it tends to be
rather stable and can be “milked for profit” for several years (i.e., single
niching is a preferred strategy). 94. As a niche specialist role, a
channel specialist specializes in serving only one channel of distribution. 95. Hewlett-Packard specializes in the
high-quality, high-price end of the hand-calculator market qualifying the company to be called a quality-price specialist. 96. If you were a marketing manager of a rival brand
of Jell-O, one of the strategies that could be used to overcome your competitor would be called premium.

97. When Pepsi positions
close to the dominant brand (Coke) with heavy advertising spending and comparable or premium price to challenge Coke’s
dominant brand in the soft drink category, it is following a strategy called differentiation. 98. As a proven strategy for meeting competitors,
almost all companies
spend the majority of their time focusing on competitors
exclusively. 99.As
a result of a competitor-centered company orientation, the company
develops a fighter orientation. 100. A customer-centered company
focuses on competitors’ efforts to
win customers and devises strategies to thwart these efforts.

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