Question 1

The lower the user's switching costs, the

Accepted Answer

A)  harder it is for the sellers of attractive substitutes to lure buyers to their offering. 
B)  more intense the competitive pressures posed by substitute products. 
C)  less intense the competitive pressures posed by substitute products. 
D)  greater the bargaining power from both suppliers and influential customers. 
E)  lesser the bargaining power from both suppliers and influential customers. 
A)  harder it is for the sellers of attractive substitutes to lure buyers to their offering. 
B)  more intense the competitive pressures posed by substitute products. 
C)  less intense the competitive pressures posed by substitute products. 
D)  greater the bargaining power from both suppliers and influential customers. 
E)  lesser the bargaining power from both suppliers and influential customers.

Question 2

What is the best technique for revealing the different market or competitive position that rival firms occupy in the industry?

Accepted Answer

A)  strategic group mapping 
B)  PESTEL analysis 
C)  five forces framework 
D)  the value net framework 
E)  competitor analysis 
A)  strategic group mapping 
B)  PESTEL analysis 
C)  five forces framework 
D)  the value net framework 
E)  competitor analysis

Question 3

Which of the following is NOT a factor that causes buyer bargaining power to be stronger?

Accepted Answer

A)  Some buyers are a threat to integrate backward into the business of sellers and become an important competitor. 
B)  Buyers are small and numerous relative to sellers. 
C)  Buyers have considerable discretion over whether and when they purchase the product. 
D)  Buyers purchase the item frequently and are well-informed about sellers' products, prices, and costs. 
E)  The costs incurred by buyers in switching to competing brands or to substitute products are relatively low. 
A)  Some buyers are a threat to integrate backward into the business of sellers and become an important competitor. 
B)  Buyers are small and numerous relative to sellers. 
C)  Buyers have considerable discretion over whether and when they purchase the product. 
D)  Buyers purchase the item frequently and are well-informed about sellers' products, prices, and costs. 
E)  The costs incurred by buyers in switching to competing brands or to substitute products are relatively low.

Question 4

Which of the following is NOT one of the five forces of competitive pressures?

Accepted Answer

A)  the power and influence of social/demographic trends 
B)  the bargaining power of suppliers and seller-supplier collaboration 
C)  the threat of new entrants into the market 
D)  the attempts of companies in other industries to win customers over to their own substitute products 
E)  the market maneuvering and jockeying for buyer patronage that goes on among rival sellers in the industry 
A)  the power and influence of social/demographic trends 
B)  the bargaining power of suppliers and seller-supplier collaboration 
C)  the threat of new entrants into the market 
D)  the attempts of companies in other industries to win customers over to their own substitute products 
E)  the market maneuvering and jockeying for buyer patronage that goes on among rival sellers in the industry

Question 5

Market maneuvering among industry rivals

Accepted Answer

A)  determines whether the industry's strategic group map will be static or dynamic. 
B)  centers around collaborative efforts to overcome the bargaining power of powerful suppliers and powerful buyers. 
C)  is usually an industry's strongest driving force. 
D)  is usually one of the two or three weakest competitive forces because of the close familiarity that rivals have for one another's likely next moves. 
E)  is ongoing and dynamic, with moves and countermoves of rivals producing a continually evolving competitive landscape that delivers winners and losers. 
A)  determines whether the industry's strategic group map will be static or dynamic. 
B)  centers around collaborative efforts to overcome the bargaining power of powerful suppliers and powerful buyers. 
C)  is usually an industry's strongest driving force. 
D)  is usually one of the two or three weakest competitive forces because of the close familiarity that rivals have for one another's likely next moves. 
E)  is ongoing and dynamic, with moves and countermoves of rivals producing a continually evolving competitive landscape that delivers winners and losers.

Question 6

Competing companies deploy whatever means necessary to strengthen market position, including all of the following EXCEPT

Accepted Answer

A)  marketing tactics including special sales promotions such as introducing new or improved features or increasing the number of styles to provide greater product selection. 
B)  differentiating their products by offering better performance features than rivals. 
C)  improving innovation to increase product performance and quality. 
D)  making efforts to expand dealer networks. 
E)  reducing distribution capabilities and market presence. 
A)  marketing tactics including special sales promotions such as introducing new or improved features or increasing the number of styles to provide greater product selection. 
B)  differentiating their products by offering better performance features than rivals. 
C)  improving innovation to increase product performance and quality. 
D)  making efforts to expand dealer networks. 
E)  reducing distribution capabilities and market presence.

Question 7

What are the five competitive forces that comprise the five forces model of competition?

Accepted Answer

The five forces framework holds that com

Question 8

What is the analytical value of studying competitors and trying to predict what moves rivals will make next?

Accepted Answer

Michael Porter's Framework for Competito

Question 9

The strength of competitive pressures that suppliers can exert on industry members is MAINLY a function of

Accepted Answer

A)  whether needed inputs are in short supply and whether suppliers provide differentiated input that enhances performance of the product. 
B)  whether suppliers self-manufacture what they supply or source their items from other manufacturers. 
C)  whether the industry's position in the growth cycle is favorable. 
D)  whether technological change in the businesses of suppliers is rapid or slow. 
E)  whether the needs and expectations of supplier-seller relationships are changing slowly or rapidly. 
A)  whether needed inputs are in short supply and whether suppliers provide differentiated input that enhances performance of the product. 
B)  whether suppliers self-manufacture what they supply or source their items from other manufacturers. 
C)  whether the industry's position in the growth cycle is favorable. 
D)  whether technological change in the businesses of suppliers is rapid or slow. 
E)  whether the needs and expectations of supplier-seller relationships are changing slowly or rapidly.

Question 10

Not all buyers of an industry's product are likely to possess the same degree of bargaining power or leverage over the terms and conditions under which they purchase the product. True or false? Explain.

Accepted Answer

Competitive pressures from buyers increa

Question 11

Explain what else is required for a complete assessment of the driving-forces in an industry.

Accepted Answer

Driving-forces analysis has three steps:

Question 12

Whether buyer bargaining power poses a strong or weak source of competitive pressure on industry members depends in part on

Accepted Answer

A)  the degree to which buyers have any bargaining preferences and the extent to which buyers are price-sensitive. 
B)  how many buyers are engaged in collaborative partnerships with sellers. 
C)  whether entry barriers are high or low and the size of the pool of likely entry candidates. 
D)  whether the overall quality of the items being furnished by industry members is rising or falling. 
E)  whether demand-supply conditions represent a buyer's market or a seller's market. 
A)  the degree to which buyers have any bargaining preferences and the extent to which buyers are price-sensitive. 
B)  how many buyers are engaged in collaborative partnerships with sellers. 
C)  whether entry barriers are high or low and the size of the pool of likely entry candidates. 
D)  whether the overall quality of the items being furnished by industry members is rising or falling. 
E)  whether demand-supply conditions represent a buyer's market or a seller's market.

Question 13

What makes the marketplace a competitive battlefield?

Accepted Answer

A)  the race of industry members to build strong defenses against the industry's driving forces 
B)  the constant rivalry of firms to strengthen their standing with buyers and win a competitive edge over rivals 
C)  the ongoing race among rival sellers to have the highest-quality product 
D)  the ongoing efforts of industry members to introduce new and improved products/services at a faster rate than their rivals 
E)  the ongoing race among rivals to achieve the fastest rate of growth in revenues and profits 
A)  the race of industry members to build strong defenses against the industry's driving forces 
B)  the constant rivalry of firms to strengthen their standing with buyers and win a competitive edge over rivals 
C)  the ongoing race among rival sellers to have the highest-quality product 
D)  the ongoing efforts of industry members to introduce new and improved products/services at a faster rate than their rivals 
E)  the ongoing race among rivals to achieve the fastest rate of growth in revenues and profits

Question 14

The bargaining leverage of suppliers is greater when

Accepted Answer

A)  the suppliers' products/services account for a small percentage of industry members' costs. 
B)  industry members incur low costs in switching their purchases from one supplier to another. 
C)  industry members account for a big fraction of supplier's sales. 
D)  there is extensive seller-supplier collaboration. 
E)  the supplier industry is composed of a large number of relatively small suppliers. 
A)  the suppliers' products/services account for a small percentage of industry members' costs. 
B)  industry members incur low costs in switching their purchases from one supplier to another. 
C)  industry members account for a big fraction of supplier's sales. 
D)  there is extensive seller-supplier collaboration. 
E)  the supplier industry is composed of a large number of relatively small suppliers.

Question 15

Identify and briefly explain any four of the factors that influence the strength or intensity of competitive rivalry among an industry's member firms.

Accepted Answer

Rivalry among competing sellers increase

Question 16

Strategic group map analysis does NOT entail drawing conclusions about

Accepted Answer

A)  where on the map is the best place to be and why. 
B)  which companies/strategic groups are destined to prosper because of their positions. 
C)  which companies/strategic groups seem destined to struggle. 
D)  what accounts for why some parts of the map are better than others. 
E)  where on the map is the easiest position to shift from to a more favorably situated position. 
A)  where on the map is the best place to be and why. 
B)  which companies/strategic groups are destined to prosper because of their positions. 
C)  which companies/strategic groups seem destined to struggle. 
D)  what accounts for why some parts of the map are better than others. 
E)  where on the map is the easiest position to shift from to a more favorably situated position.

Question 17

Which of the following is NOT part of a company's macro-environment?

Accepted Answer

A)  legal and regulatory conditions 
B)  European culture, values, and lifestyles 
C)  the pace of technological change 
D)  the natural environment 
E)  sociocultural forces 
A)  legal and regulatory conditions 
B)  European culture, values, and lifestyles 
C)  the pace of technological change 
D)  the natural environment 
E)  sociocultural forces

The lower the user's switching costs, the

What is the best technique for revealing the different market or competitive position that rival firms occupy in the industry?

Which of the following is NOT a factor that causes buyer bargaining power to be stronger?

Which of the following is NOT one of the five forces of competitive pressures?

Market maneuvering among industry rivals

Competing companies deploy whatever means necessary to strengthen market position, including all of the following EXCEPT

What are the five competitive forces that comprise the five forces model of competition?

What is the analytical value of studying competitors and trying to predict what moves rivals will make next?

The strength of competitive pressures that suppliers can exert on industry members is MAINLY a function of

Not all buyers of an industry's product are likely to possess the same degree of bargaining power or leverage over the terms and conditions under which they purchase the product. True or false? Explain.

Explain what else is required for a complete assessment of the driving-forces in an industry.

Whether buyer bargaining power poses a strong or weak source of competitive pressure on industry members depends in part on

What makes the marketplace a competitive battlefield?

The bargaining leverage of suppliers is greater when

Identify and briefly explain any four of the factors that influence the strength or intensity of competitive rivalry among an industry's member firms.

Strategic group map analysis does NOT entail drawing conclusions about

Which of the following is NOT part of a company's macro-environment?

What Is Strategy and Why Is It Important

Leading the Process of Crafting and Executing Strategy

Evaluating a Companys Resources and Competitive Position

The Five Generic Competitive Strategies: Which One to Employ

Supplementing the Chosen Competitive Strategy: Other Important Business Strategy Choices

Strategies for Competing in Foreign Markets

Diversification: Strategies for Managing a Group of Businesses

Ethical Business Strategies, Social Responsibility, and Environmental Sustainabil ITY

Building an Organization Capable of Good Strategy Execution

Managing Internal Operations: Actions That Promote Good Strategy Execution

Corporate Culture and Leadership: Keys to Good Strategy Execution

Filters

Exam 3: Evaluating a Companys External Environment

The lower the user's switching costs, the

What is the best technique for revealing the different market or competitive position that rival firms occupy in the industry?

Which of the following is NOT a factor that causes buyer bargaining power to be stronger?

Which of the following is NOT one of the five forces of competitive pressures?

Market maneuvering among industry rivals

Competing companies deploy whatever means necessary to strengthen market position, including all of the following EXCEPT

What are the five competitive forces that comprise the five forces model of competition?

What is the analytical value of studying competitors and trying to predict what moves rivals will make next?

The strength of competitive pressures that suppliers can exert on industry members is MAINLY a function of

Not all buyers of an industry's product are likely to possess the same degree of bargaining power or leverage over the terms and conditions under which they purchase the product. True or false? Explain.

Explain what else is required for a complete assessment of the driving-forces in an industry.

Whether buyer bargaining power poses a strong or weak source of competitive pressure on industry members depends in part on

What makes the marketplace a competitive battlefield?

The bargaining leverage of suppliers is greater when

Identify and briefly explain any four of the factors that influence the strength or intensity of competitive rivalry among an industry's member firms.

Strategic group map analysis does NOT entail drawing conclusions about

Which of the following is NOT part of a company's macro-environment?

What Is Strategy and Why Is It Important

Leading the Process of Crafting and Executing Strategy

Evaluating a Companys Resources and Competitive Position

The Five Generic Competitive Strategies: Which One to Employ

Supplementing the Chosen Competitive Strategy: Other Important Business Strategy Choices

Strategies for Competing in Foreign Markets

Diversification: Strategies for Managing a Group of Businesses

Ethical Business Strategies, Social Responsibility, and Environmental Sustainabil ITY

Building an Organization Capable of Good Strategy Execution

Managing Internal Operations: Actions That Promote Good Strategy Execution

Corporate Culture and Leadership: Keys to Good Strategy Execution

Filters