Marketing Quiz 10 (Ch 18)

Question 1

Step 1 in Analyzing Competitors

Answer 1

Identifying the company’s competitors

Question 2

Step 2 in Analyzing Competitors

Answer 2

Assessing competitors’ objectives, strengths, strategies, strengths and weaknesses, and reaction patterns

Question 3

Step 3 in Analyzing Competitors

Answer 3

Selecting which competitors to attack or avoid

Question 4

define strategic group (marketing context)

Answer 4

A group of firms in an industry following the same or a similar strategy in a given target market.

Question 5

define benchmarking (marketing context)

Answer 5

Comparing the company’s products and processes to those of competitors or leading firms in other industries to identify best practices and find ways to improve quality and performance.

Question 6

Customer value analysis

Answer 6

An analysis conducted to determine what benefits target customers value and how they rate the relative values of various competitors’ offers.

Question 7

Both customer-centered and competitor-centered (hint: it’s the norm for today’s companies)

Answer 7

Market Orientation

Question 8

Neither customer-centered nor competitor-centered

Answer 8

Product Orientation