SOLVED

31) Most companies will compete with ________ rather than ________. A) distant competitors; close competitors B) close competitors; distant competitors C) benchmarkers; distant competitors D) market challengers; market followers E) market challengers; market nichers 32) A company’s close competitors are ________. A) considered “bad” competitors B) a serious threat and hence, must be destroyed immediately C) those that most resemble the company’s operations D) typically ignored as they seldom pose any threat E) the sole focus of successful companies 33) Which of the following are examples of close competitors? A) Applebee’s and Subway B) Taco Bell and T.G.I. Friday’s C) Pizza Hut and Burger King D) McDonald’s and Taco Bell E) McDonald’s and Burger King 34) What is most likely a strategic benefit of the existence of competitors? A) Competitors seldom lead to product differentiation. B) Competitors help legitimize new technologies. C) Competitors exclusively serve more-attractive segments. D) Competitors fracture the target market. E) Competitors decrease the total demand. 35) An industry often contains “good” and “bad” competitors. Good competitors ________. A) break the rules of fair competition B) ensure minimum competition between firms C) play by the rules of the industry D) typically dominate the market E) share their marketing strategies with other firms 36) Most competitors in the music download industry see Apple’s iTunes Music Store as a ________ because it created a closed system with mass appeal. A) good competitor B) marginal competitor C) bad competitor D) weak competitor E) distant competitor 37) Rather than competing head to head with established competitors, many companies seek out unoccupied positions in uncontested market spaces. They try to create products and services for which there are no direct competitors. This is called a ________. A) horizontal integration approach B) commercialization process C) guerrilla marketing technique D) blue ocean strategy E) lean dynamics approach 38) An example of a company exhibiting a blue ocean strategy is ________. A) Amazon’s online shopping convenience B) a Starbucks opening in the same vicinity of an independent coffee house C) Nike’s brand image of the “swoosh” D) Whirlpool’s full line of medium-priced, energy-saving appliances E) the first digital tablet iPad released by Apple 39) Tomorrow’s leading companies will succeed by seeking out unoccupied positions in uncontested market spaces. Such strategic moves, termed ________, create powerful leaps in value for both the firm and its buyers, creating new demand for new products. A) customer lifetime value B) customer equity C) value innovation D) market segmentation E) customer intimacy 40) Which of the following is the first step taken in the competitive intelligence system? A) collect published data and information from the field B) check, interpret, and organize gathered information C) identify the vital types of competitive information needed D) respond to inquiries from managers about competitors E) create a new brand image and marketing concept for the firm