Question

1. Product category competition is typically composed of other firms in the product manager's industry.

Select One

a. True

b. False

2. Each level of competition requires the firm to perform the same set of tasks at progressively higher levels of intensity so that a product can be successful in the market.

Select One

a. True

b. False

3. Relying exclusively on external sources of information that solely define competition based on physical product similarities, will overlook both generic and budget competitors.

Select One

a. True

b. False

4. Since consumers are rarely consciously aware of all the factors underlying their purchases, consumer judgments should not be used in efforts to analyze competition.

Select One

a. True

b. False

5. At the product form competitive level, the product manager must convince customers that the ______ is/are better than the others in the product form.

Select one

a. Generic benefits

b. Product features

c. Product form

d. Product category

e. Brand

6. The ability of a firm to attract desirable middlemen and display space is affected by the attractiveness of its products.

Select One

a. True

b. False

7. By definition, no product its profitable during the decline stage of its life cycle.

Select One

a. True

b. False

8. Lifestyle and demographic trends expert a strong influence upon consumer goods firms-but have little impact upon business-to-business products.

Select One

a. True

b. False

Answer 1

Answers to the first four questions:

Question # 1. The correct answer is b. False

Explanation: The product category competition is with the products that servers the similar needs of the customer in the same target. Product category competition does not compete with the whole firm.

Question # 2. The correct answer is b. False

Explanation: with the increase in the intensity of competition or level of competition we can not just do the same thing in higher intensity. we need to have a different set of strategies and activities for each increasing level of competition.

Question # 3. The correct answer is a. True

Explanation: we should not rely only on the external source of information for the competition analysis. There are not just product similarity in terms of physical attributes that makes a product competitor product rather the different solution in a similar price range or other generic solutions can also be a competition.

Question # 4. The correct answer is a. True

Explanation: Customers don't make purcahse with true rationality as there is always some sort of paucity interms of time and information availability. Therefore we should not take the judgement of customers for the purpose of competion analysis rather we should depend on product attributes, features, benefits, technical specification and performance as base for competitor analysis.