Team Study Exercise Kotler, Dealing with Competition, Dr. Jeffrey M. Wachtel

 

Using your texts and power point handouts, discuss the questions so that everyone on the team understands the answers.  No written document need be prepared or handed in.

 

9. Dealing with the Competition

 

1. There are three models in the text for understanding the environment of competition and identifying competitors: Porter’s competitive forces, industry competition and the market concept of competition.  Discuss them to understand the terminology and general purpose of each one.
2. What are some of the ways that a company can analyze their competitors.
3. Market leaders gain most from expanding the size of the total market.  What strategies can a market leader to defend against its competitor’s actions?
4. What is a market challenger and what five general attack strategies can it use?  What other specific strategies (or tactics) can it use?
5. What is a market follower and what are the four strategies it can use?
6. What is a market-nicher strategy?  What roles are open to nichers?

 

10. Identifying Market Segments and Selecting Target Markets

1. What is the difference between a market segment and a niche?  Why has niche marketing expanded and do you see it as doing so in the future?

2. Discuss and understand the steps in seven step needs-based market segmentation approach in Table 10.1.  Do you think this is a valuable segmentation process to follow?

3.. What are the criteria for useful market segments?

4.  Name and briefly describe the segmentation variables used for segmenting consumer markets?

5. Name and briefly describe the segmentation variables used for segmenting business markets?

6. Name and briefly describe the five patterns of target market selection.

7. Briefly discuss ethics with relation to selecting target markets?

8. Briefly discuss segment by segment invasion plans?

 

11. Positioning and differentiating the market offering through the product life cycle

1. What is positioning and describe both Ries & Trout and Tracy & Wiersema’s ideas on positioning and related concepts or terminology.

2. How many ideas should a company promote in its positioning efforts?

3. What are four major positioning errors?

4. Use the Theme Park example to discuss how companies select their positioning?

5.  What is the form or elements of a positioning statement?

6. Discuss the various forms of differentiation as a way to go beyond positioning.

7. Discuss product life cycles and strategies for use in each stage.

8. What is market evolution, its stages and importance.