Market Positioning and Product Differentiation
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Questions and Answers

What is the primary goal of a Market Follower?

  • To develop new products and technologies to bypass competitors
  • To keep current customers and attract a fair share of new ones (correct)
  • To attack the market leader and gain more market share
  • To specialize in serving market niches that major competitors overlook

What is a key characteristic of a Market Challenger?

  • It seeks to maintain a stable market share and profits
  • It aggressively attacks competitors to gain more market share (correct)
  • It specializes in serving market niches that major competitors overlook
  • It focuses on developing new products and technologies to bypass competitors

What is the purpose of a competitive marketing strategy?

  • To choose a market niche and specialize in it
  • To develop new products and technologies to bypass competitors
  • To choose a marketing strategy based on industry position and strengths and weaknesses (correct)
  • To attack the market leader and gain more market share

What is an example of a strategy used by a Market Challenger?

<p>Matching resources against the competitor's weaknesses (A)</p> Signup and view all the answers

What is the main goal of a Market Nicher?

<p>To avoid direct confrontation with the majors by specializing in market niches (C)</p> Signup and view all the answers

Why is it important for a company to continually change its competitive marketing strategy?

<p>To meet changes in the competitive situation (B)</p> Signup and view all the answers

What is a characteristic of a Market Leader?

<p>It is not mentioned in the text (A)</p> Signup and view all the answers

Why does a Market Nicher avoid direct confrontation with the majors?

<p>Because it lacks the resources to compete with the majors (B)</p> Signup and view all the answers

What is a key difference between a Market Challenger and a Market Follower?

<p>A Market Challenger aggressively attacks competitors, while a Market Follower seeks to keep current customers and attract a fair share of new ones (C)</p> Signup and view all the answers

What is an example of a product development strategy used by a Market Challenger?

<p>Bypassing the competitor and developing new products, new markets or new technologies (B)</p> Signup and view all the answers

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