Question 1

Describe what a strategic group is,name a few companies that belong to the same strategic group,and discuss why they are in the same group.

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Question 2

Discuss the functions and goals of a competitive intelligence system.

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Question 3

Discuss the steps in analyzing competitors.

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Question 4

Discuss formal and informal marketing strategies and give examples of companies that use both.

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Question 5

Compare the four competitive positions that are often used to describe market structures.

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Question 6

An industry often contains "good" competitors and "bad" competitors.Define each term and discuss scenarios with both "good" and "bad" competitors.How might "good" competitors choose to react to "bad" competition?

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Question 7

Destroying a close competitor can actually damage a company's market share in the long-run.

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Destroying a close competitor may lead to a temporary increase in market share, but in the long-run, it can lead to decreased competition and a lack of innovation, making it easier for new competitors to enter the market and steal market share. Additionally, such tactics may harm a company's reputation and lead to backlash from customers and regulators.

Question 8

Discuss the four evolving company orientations.Which orientation is considered most successful and why?

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Question 9

Discuss two different levels at which competitors can be identified.

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Question 10

Discuss two ways a market challenger can best attack the chosen competitor and achieve its strategic objectives.Explain when a challenger should use these attacks and provide examples of companies that have used these methods.

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Question 11

Discuss the need to understand competitors as well as customers through competitor analysis.

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Question 12

Although competition is most intense within a strategic group,explain why there is also rivalry among groups.Give examples.

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Question 13

There will be constant tension between the formulated side of marketing and the creative side.

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The formulated side of marketing relies on data, strategy and planning, while the creative side emphasizes innovation and imagination. This can sometimes result in a conflict between the two sides, as they have different approaches and priorities. However, it is important for these two sides to work together in order to create effective marketing campaigns that are both data-driven and creatively appealing to the target audience.

Question 14

Explain how the Encyclopædia Britannica has had "competitor myopia."

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Question 15

Give examples of competitor objectives and discuss the importance of knowing a competitor's mix of objectives.

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Question 16

Discuss customer intimacy.Why is it important? Provide an example of a company that successfully abides by this value discipline.

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Question 17

Marketing managers need a deep understanding of a given competitor's mentality if they want to anticipate how the competitor will act or react.Discuss the different ways competitors act or react.Why do they do so? Use examples to support your thoughts.

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Question 18

Due to differences in available data,business-to-business marketers find it more difficult than business-to-consumer marketers to estimate competitors' market shares.

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Business-to-business markets are typically smaller and more specialized, making it harder to gather data on competitors' market shares. Additionally, some B2B industries may be highly fragmented, with numerous small players making it even harder to estimate market share accurately. In contrast, business-to-consumer markets are often bigger and more homogeneous, and there is typically more data available to estimate market share.

Question 19

Many firms avoid direct competition with P&G and look for easier prey because firms cannot succeed by challenging the strongest competitor in a market.

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Question 20

Apple's iTunes Music Store is a good competitor,one that plays by its own rules at the expense of the industry as a whole.

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Quiz 18: Creating Competitive Advantage