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Ch 5 Quiz - b Competitive Advantage c Customer Value...

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Quiz Group 8 1. A runner-up firm that wants to hold its share in an industry without rocking the boat is a: a. Market Leader b. Market Challenger c. Market Follower d. Market Nicher 2. Approaches to marketing strategy and practice often pass through all of these stages EXCEPT a. Unformulated marketing b. Entrepreneurial marketing c. Formulated marketing d. Intrepreneurial marketing 3. When referring to competitor analysis, competitor’s objectives are what? 4. Entrepreneurial marketing involves: a. Visualizing and opportunity and constructing and implementing flexible strategies b. Developing formal marketing strategies and following them closely c. Involves the attempt to reestablish an internal entrepreneurial spirit and refresh marketing strategies and approaches d. None of the above 5. What is a useful tool for assessing competitor strengths and weaknesses?
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Unformatted text preview: b. Competitive Advantage c. Customer Value Analysis d. Competitor Analysis 6. In a given target market, which firm has the largest market share? a. Market Challenger b. Market Leader c. Market Follower d. Market Nicher 7. Which of the following is a basic competitive strategy? a. Overall Cost Leadership b. Differentiation c. Focus d. All of the above 8. What strategy do market followers use? a. Full frontal attack b. Expand total market c. Indirect attack d. Both A and C 9. What type of company bases its moves on competitors’ actions and reactions? a. Customer-centered company b. Competitor-centered company c. Market-centered company d. Operational excellence centered company 10. Which of the following is not considered in the competitive environment? a. Competitor’s offerings b. Company’s capabilities c. Customer’s needs d. Competitor’s strategy Answers: 1. C 2. A 3. E 4. A 5. C 6. B 7. D 8. D 9. B 10. D...
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