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Define + Lists
Chapter 17
15
Marketing
Undergraduate 4
12/10/2007

Additional Marketing Flashcards

 


 

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Term
competitive advantage
Definition
an advantage over competitors grained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher prices
Term
competitor analysis
Definition
the process of identifying key competitors; assessing their objectives, strategies, strengths and weaknesses, and reaction patterns; and selecting which competitors to attack or avoid
Term
competitive marketing
Definition
strategies that strongly position the company against competitors that give the company the strongest possible strategic advantage
Term
strategic group
Definition
a group of firms in an industry following the same or a similar strategy
Term
benchmarking
Definition
the process of comparing the company's products and processes to those of competitors or leading firms in other industries to find ways to improve quality and performance
Term
customer value analysis
Definition
analysis conducted to determine what benefits target customers value and how they rate the relative value of various competitors' offers
Term
three basic competitive strategies (pg. 534)
Definition
overall cost leadership; differentiation; focus

OR

operational excellence, customer intimacy; product leadership

(more details on the page if you want)
Term
market leader
Definition
the firm in an industry with the largest market share
Term
market challenger
Definition
a runner-up firm that is fighting hard to increase its market share in an industry
Term
market follower
Definition
a runner-up firm that wants to hold its share in an industry
Term
market nicher
Definition
a firm that serves small segments that the other firms in an industry overlook or ignore
Term
competitor-centered company
Definition
a company whose moves are mainly based on competitors' actions and reactions
Term
customer-centered company
Definition
a company that focuses on customer developments in designing its marketing strategies and on delivering superior value to is target customers
Term
market-centered company
Definition
a company that pays balanced attention to both customers and competitors in designing its marketing strategies
Term
evolving company orientations (pg. 546 fig. 17.4)
Definition
customer or competitor centered w/ Yes AND No boxes (matrix)
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