Exam 2: Identifying Competitive Advantages

___________ value activities are found along the top of the value chain and include business processes,such as firm infrastructure,human resource management,technology development,and procurement,that support the primary value activities.

According to Porter's value chain analysis,which of the below provides customer support after the sale of goods and services?

Your boss,Kerry Miller,has asked you to analyze the soft drink industry using Porter's five-forces model.Which of the following represents a threat of a new entrant in the soft drink industry?

Demonstrate how a company can add value by using Porter's value chain analysis.

Competitive intelligence is the process of gathering information about the competitive environment,including _________.

Some industries' competition is much more intense than others.Retail grocery stores,such as Kroger,Safeway,and Albertson's in the United States,experience fierce competition and offer similar marketing campaigns to compete.What is this an example of in terms of Porter's Five Forces?

Imagine you are creating a new product to sell in an up-and-coming market.Which of the below statements indicates that it would be difficult for you to enter this new market?

A standardized set of activities that accomplish a specific task is called a supply chain component.

What is a competitive advantage?

Your boss,Ty Jacob,has asked you to analyze the music industry using Porter's five-forces model.Which of the following represents the threat of substitute products or services in the music industry?

Tiffany & Company competes in the marketplace by offering high-cost custom jewelry.Tiffany & Company is following a broad market and cost leadership strategy.

Michael Porter defined the Five-Forces Model and the potential pressures that can hurt sales.Which of the following is not one of the potential pressures that can hurt sales?

Which of the following offers an example where Porter's five forces are mostly strong and competition is high?

Sandy Fiero works as the Chief Knowledge Officer for Bend Lumbar Company.She has been given the responsibility to create a product or service that will bring an added value to its customers to increase the company's revenue.Sandy determines that the best value she can add is by creating a service that offers free next-day shipping on any order over $50.Where in the value chain is Sandy adding value?

MIS can add value to both primary activities and support activities in the value chain.Which of the following is not an example of a company adding value by using MIS in a primary activity?

All of the following are common tools used in industry to analyze and develop competitive advantages,except:

When buyer power is low,supplier power is typically ______.

The Victory Wireless store in Denver is currently offering a fabulous marketing strategy for potential new iPhone customers.Victory Wireless offers customers who purchase an iPhone with a two-year subscription a free Otter phone case,car charger,ear phones,and speakers.In terms of Porter's Five Forces,what is Victory Wireless attempting to achieve with this marketing strategy?

Explain why competitive advantages are temporary.

Focused strategies concentrate on either cost leadership or ___________.