61.The ________ usually leads the other firms in price changes,

Question : 61.The ________ usually leads the other firms in price changes, : 1410256



61.The ________ usually leads the other firms in price changes, new product introductions, distribution coverage, and promotion spending.

market leader

direct leader

market challenger

target leader

market nicher




62.To remain number one, leading firms can take any of three actions. First, they can find ways to expand total demand. Second, they can protect their current market share through good defensive and offensive actions. Third, they can ________.

hire and train new employees

evaluate current employees

run smaller companies out of business, causing them to sell out to larger companies

try to expand their market share further, even if market size remains constant

shut down current company locations and reopen in highly populated areas




63.The leading firm normally gains the most when the ________.

rest of the market follows far behind

total market expands

personal communication channels expand

integrated marketing effort expands

major competitors enter the market




64.Marketers can expand markets by discovering and promoting ________.

subliminal points of interest

the deficiencies of competitors

subtle advantages of the product

new uses of the product

new employees




65.Market leaders can expand the market by ________, new uses, and more usage of the product.

developing competitors

initiating monopolistic practices

developing new users

developing higher standards

initiating new rules




66.The best response to competitive threats is ________.

continuous innovation

a frontal attack

an indirect attack

to find partners

to ignore them




67.Profitability increases as a business gains share relative to competitors in its ________.

higher market

direct market

communication market

served market

valued market




68.Higher shares tend to produce higher profits only when ________ fall with increased market share.

unit costs

higher markets


product values

numbers of customers




69.________ can adopt one of two competitive strategies: they can challenge the leader or they can play along with competitors and not rock the boat.

Runner-up firms

Market nichers

Market followers

Localized marketers

Market developers




70.Although it might seem that the market leader has the most going for it, challengers often have what some strategists call a ________. The challenger observes what has made the leader successful and improves upon it.

"competitor myopia"

"second mover advantage"

"strategic sweet spot"

"blue ocean strategy"

"red ocean strategy"





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