Question 1

Companies in fast-cycle markets need to profit quickly from an innovative product for all of the following reasons
EXCEPT

Accepted Answer

A) the technology used is not proprietary. 
B) the prices of component parts tends to rise rapidly. 
C) product prices fall quickly in fast-cycle markets. 
D) counterattacks from rivals come quickly. 
A) the technology used is not proprietary. 
B) the prices of component parts tends to rise rapidly. 
C) product prices fall quickly in fast-cycle markets. 
D) counterattacks from rivals come quickly.

Question 2

Which of the following is the most strategic action by Walmart?

Accepted Answer

A) Aggressive pricing to ensure they are a price leader 
B) Aggressively pricing toys and electronics during the holiday season 
C) Aggressively pricing school-related items in the back-to-school season 
D) Entering a new foreign market 
A) Aggressive pricing to ensure they are a price leader 
B) Aggressively pricing toys and electronics during the holiday season 
C) Aggressively pricing school-related items in the back-to-school season 
D) Entering a new foreign market

Question 3

Multimarket competition occurs when firms

Accepted Answer

A) sell different products to the same customer. 
B) have a high level of awareness of their competitors' strategic intent. 
C) simultaneously enter into an attack strategy. 
D) compete against each other in several geographic or product markets. 
A) sell different products to the same customer. 
B) have a high level of awareness of their competitors' strategic intent. 
C) simultaneously enter into an attack strategy. 
D) compete against each other in several geographic or product markets.

Question 4

Which industry can be LEAST described as a slow-cycle market?

Accepted Answer

A) freight railroads 
B) pharmaceuticals 
C) cell phone provider 
D) private ownership of highways and bridges 
A) freight railroads 
B) pharmaceuticals 
C) cell phone provider 
D) private ownership of highways and bridges

Question 5

Two firms,such as Fed Ex and UPS that have similar resources and common markets would be direct and mutually acknowledged competitors.

Accepted Answer

A) True 
 B)False

Question 6

Traditionally,the music industry signed multi-year contracts with artists and sold copyright protected music through established distribution channels. A shift to the digital format and the rise of Internet technology has resulted in the sharing of music over peer-to-peer networks,a practice the industry called "piracy." In recent years,the music industry has seen a rapid decline in the number of CDs sold. At the same time,the ownership of the distribution rights of musical content under copyright laws remains clear. Attempts at innovation by individual record labels to offer music as direct downloads to consumer are quickly copied by other labels. Based on these factors,the best assessment is that the music industry has shifted from a______to a______cycle market.

Accepted Answer

A) slow; fast 
B) slow; standard 
C) standard; slow 
D) standard; fast 
A) slow; fast 
B) slow; standard 
C) standard; slow 
D) standard; fast

Question 7

Even if the effects of a competitor's strategic action on the focal firm are significant (e.g.,loss of market share),little response is likely from that firm.

Accepted Answer

A) True 
 B)False

Question 8

Disney is an example of a firm in a slow-cycle market because its animated characters are shielded from imitation by copyrights and trademarks.

Accepted Answer

A) True 
 B)False

Question 9

On the whole there are more competitive responses to

Accepted Answer

A) strategic actions than to tactical actions. 
B) tactical actions than to strategic actions. 
C) buyer pressures than to supplier pressures. 
D) the demands of the top management team than to industry structural pressures. 
A) strategic actions than to tactical actions. 
B) tactical actions than to strategic actions. 
C) buyer pressures than to supplier pressures. 
D) the demands of the top management team than to industry structural pressures.

Question 10

Define slow-cycle,fast-cycle,and standard cycle markets.

Accepted Answer

In slow-cycle markets, the firm's compet

Question 11

Competitors are more likely to respond to competitive actions that are taken by

Accepted Answer

A) differentiators. 
B) larger companies. 
C) first movers. 
D) market leaders. 
A) differentiators. 
B) larger companies. 
C) first movers. 
D) market leaders.

Question 12

Firms that are typically late movers usually have little organizational slack.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is TRUE of Southwest Airlines?

Accepted Answer

A) Southwest has an unusually low amount of flexibility for a large firm. 
B) Southwest's success is largely due to the fact it has little market commonality with other airlines. 
C) Decision-making responsibility is centered at its Dallas headquarters, which allows the firm to respond quickly to competitive attacks. 
D) Southwest's advantage lies in its ability to "think small." 
A) Southwest has an unusually low amount of flexibility for a large firm. 
B) Southwest's success is largely due to the fact it has little market commonality with other airlines. 
C) Decision-making responsibility is centered at its Dallas headquarters, which allows the firm to respond quickly to competitive attacks. 
D) Southwest's advantage lies in its ability to "think small."

Question 14

The CEO of the Wholesome Food retail grocery chain,which specializes in organic and natural produce and meat,has stated,"The key to success is to find your niche and focus on it,regardless of what anyone else does." The CEO

Accepted Answer

A) realizes that he must understand competitors in order to predict their competitive actions and responses. 
B) understands that he is the market leader in his niche and thus has a sustainable competitive advantage. 
C)  believes he has placed his firm in a slow-cycle industry where concerns about protecting unique competencies dominate concerns about market share. 
D) realizes his firm has such lower resources than other competitors that his chain is "competitively invisible" to them. 
A) realizes that he must understand competitors in order to predict their competitive actions and responses. 
B) understands that he is the market leader in his niche and thus has a sustainable competitive advantage. 
C)  believes he has placed his firm in a slow-cycle industry where concerns about protecting unique competencies dominate concerns about market share. 
D) realizes his firm has such lower resources than other competitors that his chain is "competitively invisible" to them.

Question 15

First movers are

Accepted Answer

A) entrepreneurs who lead in the establishment of new industries. 
B) firms that are first to exit a declining industry. 
C) firms that take an initial competitive action. 
D) individuals who move frequently as employment opportunities change in a locale. 
A) entrepreneurs who lead in the establishment of new industries. 
B) firms that are first to exit a declining industry. 
C) firms that take an initial competitive action. 
D) individuals who move frequently as employment opportunities change in a locale.

Question 16

Unlike fast-cycle markets,the struggle for market share in standard-cycle markets is moderate.

Accepted Answer

A) True 
 B)False

Question 17

Quality is

Accepted Answer

A) meeting or exceeding customer expectations in the goods and/or services offered. 
B) only a major factor in the production of luxury goods, such as BMW cars. 
C) an assured way to gain competitive advantage. 
D) a viable trade-off with product cost in gaining a competitive advantage. 
A) meeting or exceeding customer expectations in the goods and/or services offered. 
B) only a major factor in the production of luxury goods, such as BMW cars. 
C) an assured way to gain competitive advantage. 
D) a viable trade-off with product cost in gaining a competitive advantage.

Question 18

Walmart initially used a focused cost-leadership strategy to compete only in small communities by using sophisticated logistics systems and efficient purchasing practices to gain a competitive advantage. The response of local competitors was______because they

Accepted Answer

A) rapid; were nimble and flexible. 
B) slow; lacked the ability to marshal resources. 
C) rapid; perceived gains from responding to Walmart's attack. 
D) rapid; had the resources and flexibility compete against Walmart. 
A) rapid; were nimble and flexible. 
B) slow; lacked the ability to marshal resources. 
C) rapid; perceived gains from responding to Walmart's attack. 
D) rapid; had the resources and flexibility compete against Walmart.

Companies in fast-cycle markets need to profit quickly from an innovative product for all of the following reasons EXCEPT

Which of the following is the most strategic action by Walmart?

Multimarket competition occurs when firms

Which industry can be LEAST described as a slow-cycle market?

Two firms,such as Fed Ex and UPS that have similar resources and common markets would be direct and mutually acknowledged competitors.

Even if the effects of a competitor's strategic action on the focal firm are significant (e.g.,loss of market share),little response is likely from that firm.

Disney is an example of a firm in a slow-cycle market because its animated characters are shielded from imitation by copyrights and trademarks.

On the whole there are more competitive responses to

Define slow-cycle,fast-cycle,and standard cycle markets.

Competitors are more likely to respond to competitive actions that are taken by

Firms that are typically late movers usually have little organizational slack.

Which of the following is TRUE of Southwest Airlines?

The CEO of the Wholesome Food retail grocery chain,which specializes in organic and natural produce and meat,has stated,"The key to success is to find your niche and focus on it,regardless of what anyone else does." The CEO

First movers are

Unlike fast-cycle markets,the struggle for market share in standard-cycle markets is moderate.

Quality is

Walmart initially used a focused cost-leadership strategy to compete only in small communities by using sophisticated logistics systems and efficient purchasing practices to gain a competitive advantage. The response of local competitors was______because they

Strategic Management and Strategic Competitivenes

The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis.

The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages

Business-Level Strategy

Corporate-Level Strategy.

Merger and Acquisition Strategies.

International Strategy

Cooperative Strategy.

Corporate Governance.

Organizational Structure and Controls

Strategic Leadership

Strategic Entrepreneurship

Filters

Exam 5: Competitive Rivalry and Competitive Dynamics.

Companies in fast-cycle markets need to profit quickly from an innovative product for all of the following reasons EXCEPT

Which of the following is the most strategic action by Walmart?

Multimarket competition occurs when firms

Which industry can be LEAST described as a slow-cycle market?

Two firms,such as Fed Ex and UPS that have similar resources and common markets would be direct and mutually acknowledged competitors.

Even if the effects of a competitor's strategic action on the focal firm are significant (e.g.,loss of market share),little response is likely from that firm.

Disney is an example of a firm in a slow-cycle market because its animated characters are shielded from imitation by copyrights and trademarks.

On the whole there are more competitive responses to

Define slow-cycle,fast-cycle,and standard cycle markets.

Competitors are more likely to respond to competitive actions that are taken by

Firms that are typically late movers usually have little organizational slack.

Which of the following is TRUE of Southwest Airlines?

The CEO of the Wholesome Food retail grocery chain,which specializes in organic and natural produce and meat,has stated,"The key to success is to find your niche and focus on it,regardless of what anyone else does." The CEO

First movers are

Unlike fast-cycle markets,the struggle for market share in standard-cycle markets is moderate.

Quality is

Walmart initially used a focused cost-leadership strategy to compete only in small communities by using sophisticated logistics systems and efficient purchasing practices to gain a competitive advantage. The response of local competitors was______because they

Strategic Management and Strategic Competitivenes

The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis.

The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages

Business-Level Strategy

Corporate-Level Strategy.

Merger and Acquisition Strategies.

International Strategy

Cooperative Strategy.

Corporate Governance.

Organizational Structure and Controls

Strategic Leadership

Strategic Entrepreneurship

Filters