1. Companies face threats from new technologies and emerging competitors from developing countries. 2. Competitors are companies that satisfy the same customer needs. 3. A company must analyze competitors' objectives, strengths, weaknesses, and strategies to understand competitive threats.

1. TOP 10 Learning Questions for Chapter 11: Dealing with Competition Tanya Marie C. Labrador September 24, 2010

2. 1. A company is more likely to be hurt by ____________. A. Current competitors B. New technologies C. Emerging competitors D. World-class businesses E. New technologies & emerging competitors

3. Types of emerging giants Current competitors New Technologies Emerging competitors World Class Business

5. 1. A company is more likely to be hurt by ____________. A. Current competitors B. New technologies C. Emerging competitors D. World-class businesses E. New technologies & emerging competitors

7. Competition can be examined from 2 points of view: INDUSTRY MARKETERS group of firms that offer a product that are close substitutes for one another classify industries according to number of sellers; degree of product differentiation; presence or absence of entry, mobility and exit barriers; cost structure; degree of vertical integration: and degree of globalization

8. Using the Market Approach.. INDUSTRY MARKETERS COMPETITORS are defined as companies that satisfy the same customer need (e.g a customer who buys a word-processing package really wants “writing ability” – a need that can also be satisfied by pencils, pens, or typewriters).

11. Factors that shape a competitor’s objectives Size History Current Management Financial Situation Growth Profits

15. Steps in Competitor Analysis Gather information about a competitor’s strengths & weaknesses Identify a company’s main competitors Determine objectives of competitors Selecting competitor & customers

22. Marketers can try the following to increase consumption Packaging Product Re-design

23. Marketers can try to increase the amount, level, or frequency of consumption Packaging Product Re-design Larger package sizes increase the amount of product that consumers use at one time increasing the frequency of consumption

27. The ff. are distinction bet. marketers in satisfying customer needs Responsive Anticipative Creative finds a stated need and fills it looks ahead into what needs customers may have in the near future discovers and produces solutions customers did not ask for but to which they enthusiastically respond

30. Six Defense Strategies

31. The aim of defensive strategy is to reduce the probability of attack, divert attacks to less-threatening areas, and lessen their intensity company matches its opponent’s product, advertising, price & distribution

34. Types of “MARKET” that exists in business Market Leader Market Challenger Market Follower Market Nicher

35. Market Leader Market Challenger Market Follower Market Nicher Market challengers can attack the leader and other competitors in an aggressive bid for further market share

38. Marketers can try the following to increase consumption Packaging Product Re-design

39. Marketers can try the following to increase consumption Packaging Product Re-design Product development is creation of products with new or different characteristics that offer new or additional benefits to the customer. It may involve modification of an existing product or its presentation.

41. TOP 10 Learning Questions for Chapter 11: Dealing with Competition Tanya Marie C. Labrador September 24, 2010