Competitive positions/ Chapter 19

Question 1

what is market commonality?

Answer 1

number of markets in which your firm and competitive rivals are jointly involved and the degree of importance of each of these markets to you and the competitors.

Question 2

what is resource similarity?

Answer 2

the extent to which the firms tangible and intangible resources are comparable to a competitor in terms of both types and amounts.

Question 3

what are strategic marketing objectives?

Answer 3

• build
• hold
• harvest
• divest
• niche

Question 4

what are market leaders defensive strategies?

Answer 4

-position defence- used to prevent or restrict competitors from entering market
- mobile defence- market leader mvoes into new markets before the competitors can do so.
contraction defence- market leader is unable to defend all its markets and withdraws to its core business.

Question 5

what must a positioning statement be?

Answer 5

• clear with little possibility of misinterpretation by the customer
• consistent the messages sent by the company must have the same tangible and intangible product performance features.
• credible if the customers find a company untrustworthy or the value limited (e.g. high quality product offered at lower price, becomes debatable on quality_)
• competitive the positioning must show that the brand value, resonance and brand equity has a clear advantage over competing brands.