Group 8 Quiz
Sarah Tyler
Jessica Alaniz
Lisette Tucker
Meg Long
Emily Jones
David Beames
Mathias Hinojosa
Casey Ruckman
1. What is one thing that market-centered companies must watch out for?
a being blinded by focus on the competition
b being blinded by focus on the customer
c being blinded by focus on the customer and the competition
d being blinded by designing its strategies
2. Why is niching profitable
a it focuses on a large customer base
b it focuses on a demographic customer base
c because niching provides larger resources
d it provides knowledge of the target customer group so it meets their needs
3. Which of the following is not one of the approaches to the marketing strategy?
a. intrepreneurial marketing
b. systematic marketing
c. entrepreneurial marketing
d. formulated marketing
4. A strategy in which companies try to create products and services for which there are no
direct competitors is called:
A) Uncontested market space strategy
B) Forest sweeping strategy
C) Competition elimination strategy
D) Blue ocean strategy
5. Which of the following DOESN'T belong in this list of Strategic groups:
A) Kia
B) Hyundai
C) Suzuki
D) Ferrari
6. A market-centered company is...
A. A company whose moves are mainly based on competitors' actions and reactions
B. A company that focuses on customer developments in designing its marketing
strategies and on delivering superior value to its target customers
C. A company that pays balanced attention to both customers and competitors in
designing its marketing strategies
D. A company who determines its actions solely based on current sales
7. What is true of market nichers?
A. The market nicher ends up knowing the target customer group so well that it meets
their needs better than other firms that casually sell to that niche.
B. Nichers can charge a substantial markup over costs because of the added value.
C. Nichers achiever higher margins.
D. All of the above.
8. A customer value analysis is..
A. Analysis conducted to determine what benefits target customers value and how they
rate the relative value of various competitors’ offers.
B. An analysis used to compare 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.
C. A strategy used to determine a group or firms in an industry following the same or
total opposite strategy in a given target market.
D. All of the above.
9. An advantage over competitors gained by offering consumers greater value than
competitors do is…
A. Competitive marketing strategies
B. Benchmarking
C. Competitive advantage
D. Market leader
10. What percent of the market is in the hands of the market leader?
A.30%
B.40%
C.20%
D.45%
Answers
1. A
2. D
3. B
4. D
5. D
6. C
7. D
8. A
9. C
10. B