MKT 6301-Chapter 6
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| show | Answer: competition.
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| show | Answer: competitor analysis.
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| show | Answer: supply-based
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| 4) A ________ approach classifies competitors based on customer attitudes and behaviors. | show 🗑
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| 5) Which of the following refers to a group of products that are functional substitutes of each other? | show 🗑
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| 6) Which of the following best describes different specific combinations of features within each product type? | show 🗑
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| 7) Which of the following represents a group of products that are close substitutes, are available to a common group of buyers, and are distant substitutes for all products not included in the industry? | show 🗑
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| 8) A product category is also known as a: | show 🗑
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| show | Answer: product variants.
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| show | Answer: a product class.
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| 11) The narrowest definition of competition that results in the fewest competitors that includes only products or services of the same product types is called: | show 🗑
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| 12) Which of the following is a good example of an industry? | show 🗑
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| 13) Which of the following statements is true regarding a product form competition? | show 🗑
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| show | Answer: other brands of coffee drip machines
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| 15) Which of the following examples best represents product class competition in drip coffee machine category? | show 🗑
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| 16) Which of the following types of competition is based on products that have similar features and provide the same basic function? | show 🗑
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| show | Answer: generic competition
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| 18) Which of the following is the best example of generic competition in the coffee drip machine category? | show 🗑
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| 19) A competition is inward oriented in which of the following types of competition? | show 🗑
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| show | Answer: substitution in use.
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| show | Answer: budget competition
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| show | Answer: product category competition
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| 23) Which of the following examples best represents product class competition in drip coffee machine category? | show 🗑
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| show | Answer: product form
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| show | Answer: Generic
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| show | Answer: generic competition
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| 27) Economists often use ________ as an indicator of substitutability. | show 🗑
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| 28) ________ is the percentage change in one product's sales due to a percentage change in a marketing variable (such as price) for another product. | show 🗑
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| show | Answer: a product's sales decline when another product's price drops.
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| 30) Which of the following best describes the type of information a marketing manager would need to know when determining the competitor's major objectives? | show 🗑
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| show | Answer: product form and product category
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| 32) If a marketing manager observes that a competitor has increased his price and decreased his marketing budget, it would be an example of which of the following? | show 🗑
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| 33) Which of the following is the most difficult kind of competition to assess because it cannot be observed readily and competitors may be numerous? | show 🗑
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| show | Answer: an industry.
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| show | Answer: CIA
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| 36) The bottom line of a competitor analysis is: | show 🗑
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| show | Answer: assessment of the competitors' current marketing strategies
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| show | Answer: harvest objective
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| 39) Because privately-owned firms do not have to account to stock analysts: | show 🗑
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| show | Answer: generating profits and cash flow to pay down debt
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| 41) For industrial products and services, which of the following sources of information is considered to be useful? | show 🗑
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| show | Answer: maintaining employment
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| 43) For consumer products, which of the following is best in tracking a competitor's segmentation and target market strategy.? | show 🗑
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| 44) With the help of which of the following, a marketing manager can assess competitors' core strategies ? | show 🗑
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| 45) Sales promotion activities will be tracked by which area of an organizations marketing mix? | show 🗑
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| show | Answer: a firm with slack capacity
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| show | Answer: a serious long-term threat in a market
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| show | Answer: a SWOT analysis
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| 49) A SWOT analysis focuses on which of the following? | show 🗑
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| 50) A typical marketing planning horizon is: | show 🗑
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| show | Answer: threats.
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| show | Answer: sales force and customers
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| show | Answer: scenario planning
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| show | Answer: It is useful when many nonquantifiable factors affect outcomes in the market.
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| 55) ________ was invented by John von Neumann and Oskar Morgenstern to account for the interdependence of economic factors and it is a mathematical approach that is used to anticipate a competitor's likely future strategies. | show 🗑
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| show | Answer: internal sources
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| show | Answer: help-wanted ads
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| show | Answer: DIALOG
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| show | Answer: annual reports
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| show | Answer: sales force and customers
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| show | Answer: Noncooperative
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| show | Answer: payoff matrix
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| show | Answer: nash equilibrium.
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| show | Answer: Nash equilibrium
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| show | Answer: prisoner's dilemma game.
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| show | Answer: prisoner's dilemma game.
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| show | Answer: leader-follower
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| show | Answer: Game theory imposes disciplined thinking on managers.
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| show | Answer: four or fewer
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| 70) Which of the following types of industries tend to be good application areas for game theory and strategic thinking? | show 🗑
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| show | Answer: FALSE
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| show | Answer: TRUE
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| show | Answer: FALSE
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| 74) A product class is also called a product type. | show 🗑
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| show | Answer: FALSE
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| 76) A product form competition may set an industry standard for looking at competition and market shares in a way that does not represent the true underlying competitive dynamics. | show 🗑
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| show | Answer: FALSE
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| 78) Product form or product category competition is inward oriented. | show 🗑
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| show | Answer: FALSE
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| show | Answer: FALSE
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| show | Answer: TRUE
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| show | Answer: TRUE
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| 83) Cross-elasticity is the percentage change in one product's sales due to a percentage change in a marketing variable for another product, such as price. | show 🗑
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| show | Answer: TRUE
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| 85) For industrial products and services, the marketing manager can determine the customer and competitor targets by consulting product sales literature, his own sales force, and trade advertising. | show 🗑
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| 86) You can assess competitors' core strategies by studying their marketing communications. | show 🗑
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| show | Answer: TRUE
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| show | Answer: FALSE
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| show | Answer: FALSE
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| show | Answer: TRUE
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| show | Answer: TRUE
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| show | Answer: TRUE
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| show | Answer: TRUE
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| show | Answer: FALSE
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| show | Answer:
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| show | Answer:
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| show | Answer:
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| show | Answer:
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| 99) Explain Nash equilibrium. | show 🗑
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