Competitive Marketing Strategy Interview Preparation Guide
Competitive Strategy Marketing Interview Questions And Answers will Guide you that five forces analysis is a framework for the industry analysis and business strategy development. It uses concepts developed in Industrial Organization (IO) economics to derive five forces which determine the competitive intensity and therefore attractiveness of a market. Learn more about Competitive Marketing Strategy or get preparation of Competitive Marketing Strategy Job Interview with this Guide.34 Competitive Strategy Questions and Answers:
1 :: The first approach of any competitor analysis is to establish is what?
1. Who are the competitors?
2. Evaluate and qualify the threat posed by each of the competitors.
3. How many competitors there are?
4. All of the above
5. None of the above
Answer: Who are the competitors?
2. Evaluate and qualify the threat posed by each of the competitors.
3. How many competitors there are?
4. All of the above
5. None of the above
Answer: Who are the competitors?
2 :: When adopting a market perspective, the competition is defined as task competition whereby companies are trying to satisfy customer or customer group, needs and wants. Which of the following illustrate a company adopting a market perspective identification of competitors?
1. Heineken views Coors as its competition.
2. Heineken views the entire social drinking market to identify its competitors.
3. Heineken views Carlsberg as its competition.
4. Heineken views Smirnoff Ice as its competition.
Answer: Heineken views the entire social drinking market to identify its competitors.
2. Heineken views the entire social drinking market to identify its competitors.
3. Heineken views Carlsberg as its competition.
4. Heineken views Smirnoff Ice as its competition.
Answer: Heineken views the entire social drinking market to identify its competitors.
3 :: Competitive advantage is gained through the offering customers greater value. How can this be achieved?
1. Offering lower prices
2. Improving the quality of the product or service
3. Offering innovative qualities to the product
4. Providing more benefits that will justify higher prices
5. All of the above
Answer: All of the above
2. Improving the quality of the product or service
3. Offering innovative qualities to the product
4. Providing more benefits that will justify higher prices
5. All of the above
Answer: All of the above
4 :: Most companies will compete with those competitors that resemble them the most, for example, Peugeot/Citroen competes against Renault rather than against Ferrari. There are several strategic benefits to the existence of competitors. What are these benefits?
1. May assist in the legitimization of new technology
2. May share cost of market and product development
3. May help increase total demand from the market
4. May lead to the development of more product differentiation
5. All of the above
Answer: All of the above
2. May share cost of market and product development
3. May help increase total demand from the market
4. May lead to the development of more product differentiation
5. All of the above
Answer: All of the above
5 :: When discussing the 8Cs framework for mergers and acquisitions, which of the following is not a component of the criteria-
1. Competitors
2. Challengers
3. Collaborators
4. Customers
5. Commodities
Answer: Collaborators
2. Challengers
3. Collaborators
4. Customers
5. Commodities
Answer: Collaborators
6 :: The Boston consulting Group estimates that ______ of recent US acquisitions have destroyed value for the acquirers shareholders.
1. 75%
2. 56%
3. 64%
4. 43%
5. 20%
6. 80%
Answer: 64%
2. 56%
3. 64%
4. 43%
5. 20%
6. 80%
Answer: 64%
7 :: Which of the following are mechanisms to expanding the total market?
1. New uses for existing products
2. More over all general usage of product
3. New users for existing products
4. All of the above
5. None of the above
Answer: All of the above
2. More over all general usage of product
3. New users for existing products
4. All of the above
5. None of the above
Answer: All of the above
8 :: A runner-up firm in an industry that is fighting hard to increase market share, is referred to as?
1. Market leader
2. Market follower
3. Market nicher
4. Market challenger
Answer: Market challenger
2. Market follower
3. Market nicher
4. Market challenger
Answer: Market challenger
9 :: Which of the following competitive positioning strategies is a losing strategy?
1. Middle-of-the-roader
2. Dissemination
3. Overall cost leadership
4. Differentiation
Answer: Middle-of-the-roader
2. Dissemination
3. Overall cost leadership
4. Differentiation
Answer: Middle-of-the-roader
10 :: What is competitor myopia?
1. Company is focused only on the one major competitor.
2. Company is too focused on the major competitors.
3. Immediate competition blinds a company to latent competitors who can destroy the old ways of doing business.
4. All of the above
5. None of the above
Answer: Immediate competition blinds a company to latent competitors who can destroy the old ways of doing business.
2. Company is too focused on the major competitors.
3. Immediate competition blinds a company to latent competitors who can destroy the old ways of doing business.
4. All of the above
5. None of the above
Answer: Immediate competition blinds a company to latent competitors who can destroy the old ways of doing business.