Chapter 18 Quiz – Flashcards

The first step in initiating competitive marketing strategies is to​ ________.

A company that pursues​ ________ will react much more strongly to a​ competitor's cost reducing manufacturing breakthrough than to the same​ competitor's advertising increase.

In the context of identifying​ competitors' strategies, the more that one​ firm's strategy resembles another​ firm's strategy, the more likely the two firms are to​ ________.

​________ is the process of comparing the​ company's products and processes to those of competitors or leading firms in other industries to find ways to improve quality and performance.

A market research firm conducts a survey of​ soft-drink consumers to assess​ Pepsi's and​ Coke's strengths and weaknesses in attributes valued by both​ company's target customers. The market research firm is using​ a(n) ________.

An industry often contains​ "good" and​ "bad" competitors. Good competitors​ ________.

When a company provides superior value by leading its industry in price and​ convenience, it has obtained​ ________.

When companies serve customers who are willing to pay a premium to get precisely what they want and the company responds quickly to satisfy these​ customers' needs, the company has achieved​ ________.

Marketers can expand markets by discovering and promoting​ ________.

Almost every industry includes firms that specialize in serving target subsegments called market​ ________.