Creating Competitive Advantage

This question bank verified by Studydeets
All Questions
Filter by:
Question 1
Free
Multiple Choice

A competitor analysis requires the assessment of all of the following EXCEPT the competitors' ________ .

Choose correct answer/s
A

objectives

B

organizational hierarchy

C

strategies

D

strengths and weaknesses

E

reaction patterns

Check answer
Question 2
Free
Multiple Choice

Strategies that strongly position a company against competitors and that give the company the best possible strategic advantage are ________ strategies.

Choose correct answer/s
A

competitor analysis

B

customer relationship

C

competitive marketing

D

competitive relationship

E

customer identification

Check answer
Question 3
Free
Multiple Choice

Gaining ________ requires delivering more value and satisfaction to target consumers than competitors do.

Choose correct answer/s
A

competitive advantage

B

first-mover advantage

C

economies of scale

D

comparative advantage

E

differentiation

Check answer
Question 4
Free
Multiple Choice

The first step in initiating competitive marketing strategies is to ________ .

Choose correct answer/s
A

balance customer and competitor orientations

B

design broad competitive marketing strategies

C

assess long-term organizational objectives

D

conduct competitor analysis

E

conduct transaction analysis

Check answer
Question 5
Free
Multiple Choice

________ involves first identifying and assessing competitors and then selecting which competitors to attack or avoid.

Choose correct answer/s
A

Competitor analysis

B

Self-competition

C

Blue ocean strategy

D

Quantitative analysis

E

Perfect competition

Check answer
Question 6
Multiple Choice

To plan effective marketing strategies, a company needs to find out all it can about its competitors. It must constantly compare its marketing strategies, products, prices, channels, and promotions with those of close competitors. This is an example of ________ .

Choose correct answer/s
A
blue ocean strategy
B
competitor analysis
C
organizational evaluation
D
perfect competition
E
quantitative analysis
To unlock the question
Question 7
Multiple Choice

The goal of performing a competitor analysis is to ________ .

Choose correct answer/s
A
learn more about the competitors' sales structures
B
find flaws in the competitors' manufacturing processes
C
copy the best features that the competitors offer
D
find areas of potential competitive advantage and disadvantage
E
develop products in markets that the competitors are not in
To unlock the question
Question 8
Multiple Choice

Companies can identify their competitors from both ________ points of view.

Choose correct answer/s
A
industry and market
B
product and customer
C
customer and location
D
location and product
E
product and strategy
To unlock the question
Question 9
Multiple Choice

Companies can identify competitors from a(n) ________ point of view by defining competitors as companies that are trying to satisfy the same customer need or build relationships with the same customer group.

Choose correct answer/s
A
customer
B
blue ocean
C
market
D
myopic
E
industry
To unlock the question
Question 10
Multiple Choice

Companies can identify competitors from one of two points of view: ________ .

Choose correct answer/s
A
manufacturing or selling
B
engineering or producing
C
consumer or business
D
industry or market
E
unique or similar
To unlock the question
Question 11
Multiple Choice

If a company identifies its competitors from an industry point of view, it must understand ________ if it hopes to be an effective player in that industry.

Choose correct answer/s
A
the trends in the industry
B
the primary customers
C
the impact of technological changes
D
the potential customers
E
the competitive patterns
To unlock the question
Question 12
Multiple Choice

A company is guilty of ________ if the company forgets latent competitors and only focuses on current competitors.

Choose correct answer/s
A
perfect competition
B
self-competition
C
Cournot competition
D
competitor backlinking
E
competitor myopia
To unlock the question
Question 13
Multiple Choice

Kodak's film business didn't lose out to direct competitor Fujifilm; it lost out to Sony, Canon, and other digital camera makers, along with a host of digital image developers and online image sharing services. This is an example of ________ .

Choose correct answer/s
A
a blue ocean strategy
B
competitor backlinking
C
self-competition
D
competitor myopia
E
marketing myopia
To unlock the question
Question 14
Multiple Choice

Fosters and Mason House, two major coffee brands, competed neck and neck based on their product attributes and price promotions. They were soon blindsided by the arrival of Starcoffeez, which focused more on the coffee experience rather than the coffee. This resulted in major losses for the two companies. This is an example of ________ .

Choose correct answer/s
A
self-competition
B
competitor myopia
C
competitor backlinking
D
marketing myopia
E
perfect competition
To unlock the question
Question 15
Multiple Choice

From a(n) ________ point of view, Pepsi might see its competition as Coca-Cola, Dr Pepper, 7UP, and the makers of other soft drink brands. From a(n) ________ point of view, however, the customer really wants "thirst quenching."

Choose correct answer/s
A
market; industry
B
market; consumer
C
industry; competitive
D
industry; market
E
company's; consumer's
To unlock the question
Question 16
Multiple Choice

Nintendo, producer of the Wii video game console, might define its competitors as other makers of physically interactive video games. But from a(n) ________ point of view, it would include all firms making physically interactive recreational products.

Choose correct answer/s
A
industry
B
market
C
segment
D
niche
E
interdependent
To unlock the question
Question 17
Multiple Choice

From a market point of view, Universal Pictures film studio might see its competition as ________ .

Choose correct answer/s
A
Paramount Pictures
B
Warner Bros. Pictures
C
Walt Disney Pictures
D
20th Century Fox
E
Broadway
To unlock the question
Question 18
Multiple Choice

From an industry point of view, Universal Pictures film studio might see its competition as ________ .

Choose correct answer/s
A
West End theatre
B
Columbia Pictures
C
Tomorrowland
D
Summerfest
E
HarperCollins
To unlock the question
Question 19
Multiple Choice

What is the LEAST relevant question to ask when assessing a firm's main competitor?

Choose correct answer/s
A
What are the competitor's objectives?
B
What is the competitor's strategy?
C
What are the competitor's strengths?
D
What are the competitor's locations?
E
What are the competitor's weaknesses?
To unlock the question
Question 20
Multiple Choice

Each competitor has a mix of objectives. The company wants to know the relative importance that a competitor places on all of the following EXCEPT ________ .

Choose correct answer/s
A
company history
B
current profitability
C
market share growth
D
cash flow
E
technological leadership
To unlock the question