Question 1. Which of the following tennis shoe companies is considered to be a market nicher? a. New Balance b. Adidas c. Reebok d. Wal-Mart brand tennis shoes e. Nike 2. In terms of comparisons with a market leader, whereas the market leader achieves high volume, the market nicher achieves ________. a. high margin b. low margin c. high promotability d. medium pricing e. 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 specialist b. Vertical-level specialist c. Customer-size specialist d. Specific-customer specialist e. 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-level c. customer-size d. 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. Challenger c. Niche d. Premium e. Standard 6. Which of the following types of companies is characterized as having a “fighter orientation”? a. Customer-centered b. Competitor-centered c. Distribution-centered d. Promotion-centered e. Niche-centered 7. Which of the following types of companies is characterized as being “too reactive”? a. Competitor-centered b. Customer-centered c. Service-centered d. Distribution-centered e. 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-centered c. Nicher-centered d. Distribution-centered e. Organization-centered 9. In a ________ company, the obsession of the company is with the customer, not the competition. a. niche-centered b. price-centered c. cost-centered d. customer-centered e. 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. 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.

10 May Question 1. Which of the following tennis shoe companies is considered to be a market nicher? a. New Balance b. Adidas c. Reebok d. Wal-Mart brand tennis shoes e. Nike 2. In terms of comparisons with a market leader, whereas the market leader achieves high volume, the market nicher achieves ________. a. high margin b. low margin c. high promotability d. medium pricing e. 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 specialist b. Vertical-level specialist c. Customer-size specialist d. Specific-customer specialist e. 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-level c. customer-size d. 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. Challenger c. Niche d. Premium e. Standard 6. Which of the following types of companies is characterized as having a “fighter orientation”? a. Customer-centered b. Competitor-centered c. Distribution-centered d. Promotion-centered e. Niche-centered 7. Which of the following types of companies is characterized as being “too reactive”? a. Competitor-centered b. Customer-centered c. Service-centered d. Distribution-centered e. 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-centered c. Nicher-centered d. Distribution-centered e. Organization-centered 9. In a ________ company, the obsession of the company is with the customer, not the competition. a. niche-centered b. price-centered c. cost-centered d. customer-centered e. 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. 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.

C; margin-left: 18pt; text-align: justify; text-indent: -18pt;”>1. Which of the following tennis shoe companies is considered to be a market nicher?

1. New Balance
2. Adidas
3. Reebok
4. Wal-Mart brand tennis shoes
5. Nike
6. In terms of comparisons with a market leader, whereas the market leader achieves high volume, the market nicher achieves ________.
7. high margin
8. low margin
9. high promotability
10. medium pricing
11. lower demand
12. 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?
13. End-user specialist
14. Vertical-level specialist
15. Customer-size specialist
16. Specific-customer specialist
17. Quality-price specialist
18. 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.
19. end-user
20. vertical-level
21. customer-size
22. channel
23. product-feature
24. 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?
25. Differentiation
26. Challenger
27. Niche
28. Premium
29. Standard
30. Which of the following types of companies is characterized as having a “fighter orientation”?
31. Customer-centered
32. Competitor-centered
33. Distribution-centered
34. Promotion-centered
35. Niche-centered

7. Which of the following types of companies is characterized as being “too reactive”?
8. Competitor-centered
9. Customer-centered
10. Service-centered
11. Distribution-centered
12. Niche-centered
13. Which of the following types of companies is felt to be in a better position to identify new opportunities?
14. Competitor-centered
15. Consumer-centered
16. Nicher-centered
17. Distribution-centered
18. Organization-centered
19. In a ________ company, the obsession of the company is with the customer, not the competition.
20. niche-centered
21. price-centered
22. cost-centered
23. customer-centered
24. 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.

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.
19. Using a market approach, competitors are companies that satisfy the same customer need.
20. A competitor map shows the sales volume of various competitors in a market space.
21. A group of firms following the same strategy in a given target market is called a strategic alliance.
22. The competitor’s share of a target market is called the share of market.
23. 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.”
24. 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.
25. The most constructive strategy that a market leader can use to defend its terrain is to follow the path of “attack before they do.”
26. If a market leader follows a strategy of continuous innovation, it keeps increasing its competitive strength and value to its customers.
27. Position defense involves occupying the most desirable market space in the minds of consumers, making the brand almost impregnable.
28. A preemptive defense is basically a strategic retreat until resources can be assembled for a more advantageous attack.
29. A good way of describing a contraction defense would be to label it a strategic withdrawal.
30. 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.
31. After the market leader position, firms that occupy second, third, and lower ranks in an industry are often called fledgling leaders.
32. The first step that a market challenger must take in establishing its stance against competitors is to define its strategic objective.
33. The frontal attack by a market challenger looks for weak spots on the fringe of the opponent’s defenses because these are natural targets.
34. 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.
35. The encirclement attack by a market challenger consists of waging small, intermittent attacks to harass and demoralize the opponent and eventually secure permanent footholds.
36. Prestige goodsis a specific attack strategy that a market challenger can launch for a higher-quality product and charge a higher price than the market leader.
37. 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, theadapteremulates 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 aquality-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 calledpremium.

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 calleddifferentiation.
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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