Exam 5: Industry and Competitor Analysis

According to the textbook, Nucor in steel, JetBlue in airlines, and Cirque du Soleil in circuses are examples of entrepreneurial firms who are exploiting opportunities in ________ industries.

Firms that pursue a multidomestic strategy use the same basic approach in all foreign markets.

Once a firm decides to enter an industry and chooses a market in which to compete, it must gain an understanding of its competitive environment. This challenge can be undertaken by completing a(n) ________ analysis.

The two most common strategies pursued by firms in global industries are the ________ strategy and the ________ strategy.

According to the textbook, the Five Forces model can be used in the following two ways: ________.

Katherine Chapman recently launched a firm in the clothing industry, targeting 13-17 year olds. One thing Katherine thinks she has accomplished is producing products that have universal appeal, so she will not vary her approach from country to country. Katherine is pursuing a ________ strategy.

Many firms benefit from an increasing ability to outsource manufacturing or service functions to lower-cost foreign countries. This trend is referred to in the textbook as a(n) ________ trend.

Brain Sentry is starting a firm in the small industry that helps football teams discern whether a player has suffered a concussion. This industry is still so new that no standard operating procedures have been developed. The industry Brain Sentry is entering is an example of a(n) ________ industry.

A fragmented industry is an industry that is experiencing slow increases in demand, numerous repeat customers, and limited product innovation.

The three types of competitors a business will face are direct competitors, indirect competitors, and future competitors.

If the buyers are concentrated and they buy from a large number of suppliers, then the bargaining power of buyers is increased.

The Partnering for Success feature in Chapter 5 focuses on three things that are important for startups to become active in to learn the ins and outs of their industries. The three items focused on in the feature are ________.

The information that is gathered by a firm to learn about its competitors is referred to as tactical intelligence.

Aquafina operates in the bottled water industry. The companies that offer identical or similar products and go after the same customers that Aquafina does are Dasani and Zephyrhills. Dasani and Zephyrhills are Aquafina's ________ competitors.

Identify the five competitive forces that determine industry profitably. Explain the purpose of analyzing these forces?

Some industries, like the athletic shoe industry, are dominated by a small number of firms with strong brands. These industries are difficult to break into without spending heavily on advertising. The barrier to entry that the firms in these types of industries have erected is referred to as ________.

What is industry analysis? Why is it important for a new venture to complete a thorough analysis of the industry it is entering?

Firms that pursue a(n) ________ strategy compete for market share on a country-by-country basis and vary their product or service offerings to meet the demands of the local market.

The two trends that are most important to focus on in an industry analysis are business trends and environmental trends.

There are four factors that determine the threat of new entrants: number and balance of competitors, degree of difference between products, growth rate of an industry, and level of fixed costs.