TOP 10 Learning Questions for Chapter 11: Dealing with Competition Tanya Marie C. Labrador September 24, 2010
Transcript
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 companys 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 competitors objectives except
A. Profits
B. Behavior
C. Current management & financial situation
D. Size and History
E. Growth
11. Factors that shape a competitors objectives Size History
Current Management Financial Situation Growth Profits
12. Factors that shape a competitors 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 competitors behavior?
Knowing what drives a competitors
behavior is one step in determining
objectives of competitor which does not
necessarily mean that BEHAVIOR is a
factor that shapes a competitors objectives
Size History Current Management Financial Situation Growth
Profits
13. 3. Many factors shape a competitors 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 competitors strengths &
weaknesses
B. Identify a companys 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
competitors strengths & weaknesses Identify a companys main
competitors Determine objectives of competitors Selecting
competitor & customers
16. All choices are part of the competitors 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 competitors strengths & weaknesses Identify a companys
main competitors Determine objectives of competitors Selecting
competitor & customers
17. 4. Steps to competitor analysis are the ff. except
A. Gather information about a competitors strengths &
weaknesses
B. Identify a companys 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 Ys 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 opponents product, advertising,
price & distribution
32. 8. Company X matches Company Ys 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