Nova Southeastern University

MKT 5070

1)As a market follower strategy the_duplicates the leader's product and packages and sells it on the black market or through disreputable dealers.

1. innovator
2. cloner
3. imitator
4. adapter
5. counterfeiter

2. Aron, a company manufacturing snack food and soft drinks, replicates its product taste and packaging from Lay's, a market leader in the snack food industry. Later, it sells these imitated products on the black market. This is an example of                                                                                                                                                .

1. cloning
2. imitating
3. counterfeiting
4. adapting
5. innovating

3. As a market follower strategy, the                                         emulates the leader's products, name, and packaging, with slight variations.

1. counterfeiter
2. cloner
3. imitator
4. adapter
5. innovator

4. Amani, a company that manufactures cloth for suits, strives to be equal to Armani in product design, brand name, and product packaging. This is an example of                                                                             .

1. innovating
2. adapting
3. imitating
4. cloning
5. counterfeiting

5. Tasteeos, Fruit Rings, and Corn Flakes sell for nearly $1 a box less than leading cereal brands. Which market follower strategy is being employed by the cereal manufacturer?

1. counterfeiter
2. cloner
3. imitator
4. adapter
5. reverse innovator

6. The                        copies some things from the leader but differentiates on packaging, advertising, pricing, or location.

1. innovator
2. adapter
3. cloner
4. imitator
5. counterfeiter

7. As a(n)                        , BurgerJacks, a fast food chain selling low-price burgers, has differentiated on location by setting up base in the Middle East, a market which the current leader of the industry McDonalds has yet not exploited.

1. cloner
2. imitator
3. counterfeiter
4. adapter
5. innovator

8. The TelePizza chain, which operates in Europe and Latin America, has copied Domino's service model but maintains differentiation in terms of location. TelePizza is an example of a(n)    .

1. counterfeiter
2. adopter
3. cloner
4. imitator
5. adapter

9. As a market follower, the                           may choose to sell to different markets, but often it grows into a future challenger.

1. imitator
2. adapter
3. cloner
4. counterfeiter
5. innovator

10. Redo is a market follower in the wristwatch industry. After noticing a shortfall in the market leader's product, Redo improves its product to suit consumer needs and becomes a challenger for the market leader. This is an example of a(n)                                                                                                                    .

1. counterfeiter
2. cloner
3. imitator
4. adapter
5. innovator

11. An alternative to being a market follower in a large market is to be a leader in a small market. This type of competitor is called a                                                                              .

1. marketing king
2. market nicher
3. segment king
4. guerilla marketer
5. strategic clone

12. A firm that serves small market segments that are not being served by bigger firms is known as a .

1. market challenger
2. market leader
3. market follower
4. market nicher
5. market entrant

13. The market leader strategy ensures high sales volume, whereas the market nicher strategy allows firms to achieve                                                                     .

1. high margin
2. low margin
3. high promotability
4. medium pricing
5. lower demand

14. Which of the following is true about market-nichers?

1. They are market followers in small markets.
2. They tend to have high manufacturing costs.
3. Their return on investment exceeds that in larger markets.
4. A nicher achieves high volume as against a mass marketer that achieves high margin.
5. They usually experience long term losses.

15. The key idea in successful nichemanship is specialization. Which of the following specialists would most closely be identified with the characterization of being an organization that limits its selling to one customer?

1. end-user specialist
2. vertical-level specialist
3. customer-size specialist
4. specific-customer specialist
5. quality-price specialist

16. Newman Inc. is a company that manufactures saddles specifically for horses that race in derbies in the U.S. and the UK. Within this context the firm is exhibiting the role of a           specialist.

1. vertical-level
2. customer-size
3. product-line
4. job-shop
5. service

17. A market nicher is considered to be a(n)                             specialist if the firm specializes in producing a certain type of product or product feature such as, Rent-a-Wreck, that rents only "beat-up" cars.

1. end-user
2. vertical-level
3. customer-size
4. channel
5. product-feature

18. A job-shop specialist                          .

1. sells only in a certain locality, region, or area of the world
2. customizes its products for individual customers
3. operates at the low- or high-quality ends of the market
4. offers one or more services not available from other firms
5. specializes in serving only one channel of distribution

19. A firm that is based in France designs jewelry and takes custom orders from around the world. They do not design more than 15 pieces of jewelry in a year and ensure that each design uses unique stones and is different from the other. Such nichemanship is an example of    specialist role.

1. customer-size
2. product
3. product-feature
4. job-shop
5. quality-price

20. When a bank takes loan requests over the phone and hand-delivers the money to the customer, it becomes a         specialist.

1. geographic
2. job-shop
3. quality-price
4. channel
5. service

21.                        is the period of slow sales growth and nonexistent profits.

1. Growth
2. Decline
3. Maturity
4. Introduction
5. Stagnancy

22. Campdell Soups is a newly established company that specializes in preparing healthy but tasty food for children under the age of 5. It is incurring huge production costs, nonexistent profits, and slow sales growth. The company is in the                                                                                                                                             phase of its life cycle.

1. stagnancy
2. introduction
3. maturity
4. decline
5. growth

23.                        is a period of rapid market acceptance and substantial profit improvement.

1. Stagnancy
2. Introduction
3. Maturity
4. Decline
5. Growth