Exam 3: External Analysis: Industry Structure, Competitive Forces, and Strategic Groups

Curry Rush is a premium Asian restaurant chain that differentiates itself from a large number of competitors by providing exclusively organic Vietnamese cuisine.It has some pricing power because it provides differentiated products and therefore,has some entry barriers in place.In this scenario,Curry Rush is most likely operating in a(n)

Which of the following external forces is a part of a firm's task environment?

Earlier,the travel industry was controlled by a few large travel companies that booked holidays,air tickets,bus tickets,and hotels for their customers.However,with the emergence of the Internet,smaller travel agencies started mushrooming in the industry and customers started making their own reservations.Which of the following can be inferred from this information?

While industry forces have been favorable for a long time in the U.S.automotive industry,recent dynamics have lowered the profit potential of competing in this industry and thus reduced its attractiveness.The continued success of Tesla Motors in the industry will depend on other firm and industry factors.Which of the following represents one such factor that directly affects Tesla Motors?

Which of the following is a feature of an oligopolistic industry structure?

Which of the following represents an economic factor in a firm's external general environment?

Why do firms operating in a monopolistically competitive industry have the power to raise the prices of their products or services?

Peerless Inc.,a large conglomerate,wants to liquidate its business in certain industries to improve its overall profitability.Which of the following industries would Peerless Inc.find it most difficult to exit?

Which of the following is a macroeconomic factor that can affect a firm's strategy?

Which of the following best illustrates a firm operating in a monopolistically competitive industry?

Which of the following would most likely not indicate that sellers are a strong competitive force in an industry?

Which of the following firms will most likely not be a complementor to a firm that manufactures computers?

Demand for traditional fast-food providers such as McDonald's,Burger King,and Wendy's has been on a decline in recent years.Consumers have become more health conscious and demand has shifted to alternative restaurants like Subway,Chick-fil-A,and Chipotle.Attempts by McDonald's and Wendy's to steal customers from one another include frequent discounting tactics such as dollar menus.Such competitive actions are indicative of

Which of the following statements accurately brings out the difference between monopolistic competition and an oligopoly?

Competitive industry structure refers to elements and features common to

Which of the following is a feature of a monopolistically competitive industry?

Rhino Pictures Inc.is a large production company that controls a major portion of the movie industry's market share along with two other firms.Despite its competitiveness with the two other firms,it is influenced by their actions and often has to consider their strategic actions before acting on its own.In this scenario,Rhino Pictures Inc.is most likely functioning in a(n)_____ industry.

An industry has many firms that compete in it.While products between competitors tend to be similar,they are by no means identical.As a consequence,managers selling a product with unique features tend to have some ability to raise prices.This type of industry is an example of

Industry convergence is a process whereby

The primary objective of Porter's five forces model is to