Chat with AIExam 16: Strategic Elements of Competitive Advantage
What are demand conditions? Why is the nature of home demand conditions for the firm's or industry's products and services important?
(30) 
VerifiedDemand conditions are the factors that either train firms for world-class competition or that fail to adequately prepare them to compete in the global marketplace.The nature of home demand conditions for the firm's or industry's products and services is important because it determines the rate and nature of improvement and innovation by the firms in the nation.Characteristics of home demand are particularly important to the creation of competitive advantage, which include the composition of home demand, the size and pattern of growth of home demand, rapid home market growth, and the means by which a nation's home demand pulls the nation's products and services into foreign markets.The characteristics of home demand determines how firms perceive, interpret, and respond to buyer needs.Competitive advantage can be achieved when the home demand sets the quality standard and gives local firms a better picture of buyer needs, at an earlier time, than is available to foreign rivals.This advantage is enhanced when home buyers pressure the nation's firms to innovate quickly and frequently.The size and pattern of growth of home demand are important only if the composition of the home demand is sophisticated and anticipates foreign demand.Large home markets offer opportunities to achieve economies of scale and learning while dealing with familiar, comfortable markets.Rapid home market growth is yet another incentive to invest in and adopt new technologies faster, and to build large, efficient facilities.Means by which a nation's products and services are pushed or pulled into foreign countries helps a nation's people and businesses go abroad and then demand the nation's products and services in those second countries.It is the interplay of demand conditions that produces competitive advantage.Of special importance are those conditions that lead to initial and continuing incentives to invest and innovate, and to continuing competition in increasingly sophisticated markets.
The central concept of the strategic intent model of competitive advantage is an obsession of winning.
(41) VerifiedTrue
Michael Porter's four generic strategies for achieving competitive advantage are product differentiation, price leadership, promotion power, and distribution efficiency.
(33) VerifiedFalse
Building layers of advantage, searching for loose bricks, changing the rules of competitive engagement, and collaborating are elements of the competitive advantage framework developed by:
(35) According to Michael Porter's research on the competitive advantage of nations, human, physical, knowledge, capital, and infrastructure resources are all components of a country's:
(43) Gillette markets its flagship MACH3 razor in more than 100 countries around the world.The MACH3 is available virtually everywhere that consumers shop for personal-care products; because of its advanced 3-blade design, the MACH3 typically costs more than other wet-shaving systems.Which generic strategy is evident in Gillette's global marketing effort of MACH3?
(35) According to Michael Porter's research on the competitive advantage of nations, Switzerland's large synthetic dye industry and the success of the Swiss pharmaceuticals can be explained in terms of:
(41) Suppose you are a sales representative for Advanced Micro Devices (AMD)in Japan.You are trying to convince Toshiba to buy your company's superfast Opteron microprocessor for its new laptop computer.Toshiba's representative seems interested, but finally does not place an order.Confidentially, the representative tells you that he is afraid that Intel will withhold shipments of its Pentium 4 if he does business with AMD.Thinking about Intel's role in this scenario, which of the following element of the five forces model is evident here?
(47) The essence of marketing strategy is successfully relating the strengths of an organization to its environment.
(35) Benetton's success in the global fashion industry illustrates the flagship model.
(41) Intel's focus on designing complex, expensive microprocessors for PCs enabled competitors to develop cheaper chip sets for non-PC electronics devices.In the strategic intent model of competitive advantage, this is an example of "loose bricks."
(41) How do chance events play a role in shaping the competitive environment?
(38) Rugman and D'Cruz's development of the flagship model was influenced by their study of Japanese keiretsu.
(35) A major difference between the flagship model and Porter's is that Porter's is based on the notion of corporate individualism and individual business transactions.
(33) What is hypercompetition? Briefly discuss conditions under which hypercompetition takes place.
(29) Jollibee operates some 1,500 restaurant locations in Philippines, more than McDonald's.Even Jollibee's marketing vice president concedes that McDonald's provided the basic blueprint for their restaurants.However, at Jollibee, sweet and spicy flavors predominate in the burgers and chicken dishes, and their menu offerings are much more varied than competitors.This is an example of which component of competitive innovation?
(44) The strong rivalry in the U.S.market between Dell, Gateway, Hewlett-Packard, Apple, and other computer companies has helped make the United States a world leader in personal computers.
(33) The ________ framework was developed by Professor Richard D'Aveni to describe a business environment in which no form of competitive advantage can be sustained for long because of escalating and accelerating competitive forces.
(43) When company management decides that it is unwilling to follow the "conventional wisdom" and instead finds a new way to gain competitive advantage, it might be said to be:
(36) Which of the following is not an element of Rugman and D'Cruz's flagship model?
(35) 
Filters
- Essay(0)
- Multiple Choice(0)
- Short Answer(0)
- True False(0)
- Matching(0)