Question 1

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

Accepted Answer

A)  Five Forces Model 
B)  Three generic strategies 
C)  Competitive analysis model 
D)  Value chain analysis 
A)  Five Forces Model 
B)  Three generic strategies 
C)  Competitive analysis model 
D)  Value chain analysis

Question 2

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

Accepted Answer

To identify competitive advantages,Micha

Question 3

Greg Provenzo owns and runs a Blockbuster video store.Greg is implementing a drive-thru rental process that is the same as you would find at a fast-food restaurant.Customers can pick up and drop off their videos without leaving their cars.Greg's new system has become so popular that Videos Plus,a competitor down the street,is attempting to re-create Greg's video drive-thru rental process.Greg's system is an example of a _________.

Accepted Answer

A)  supply chain power 
B)  first-mover advantage 
C)  business processing strategy 
D)  business intelligence 
A)  supply chain power 
B)  first-mover advantage 
C)  business processing strategy 
D)  business intelligence

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

When applying Porter's three generic strategies,Tiffany & Co.has a competitive scope and cost strategy that is a __________.

Accepted Answer

A)  broad market, high cost strategy 
B)  narrow market, low cost strategy 
C)  narrow market, high cost strategy 
D)  broad market, low cost strategy 
A)  broad market, high cost strategy 
B)  narrow market, low cost strategy 
C)  narrow market, high cost strategy 
D)  broad market, low cost strategy

Question 6

What includes support-value activities and primary-value activities and is used to determine how to create the greatest possible value for customers?

Accepted Answer

A)  Supplier power. 
B)  Operations management. 
C)  Porter's Five Forces Model. 
D)  Value chain analysis. 
A)  Supplier power. 
B)  Operations management. 
C)  Porter's Five Forces Model. 
D)  Value chain analysis.

Question 7

According to Porter's three generic strategies for entering a market,if you have a focused strategy what market should you target?

Accepted Answer

A)  A niche market. 
B)  A broad market. 
C)  Neither niche or broad markets. 
D)  Both niche and broad markets. 
A)  A niche market. 
B)  A broad market. 
C)  Neither niche or broad markets. 
D)  Both niche and broad markets.

Question 8

Your boss,Kerry Miller,has asked you to analyze the soft drink industry using Porter's Five Forces Model.Which of the following represents supplier power in the soft drink industry?

Accepted Answer

A)  Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases. 
B)  Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store. 
C)  Zevia Natural Diet Soda begins selling directly over the Internet. 
D)  Vitamin water, fruit juice, and coffee. 
A)  Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases. 
B)  Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store. 
C)  Zevia Natural Diet Soda begins selling directly over the Internet. 
D)  Vitamin water, fruit juice, and coffee.

Question 9

With the Five Forces Model,companies should watch the forces in the market.If the forces are strong,competition generally increases,and if the forces are weak,competition typically decreases.

Accepted Answer

A) True 
 B)False

Question 10

Rivalry among existing competitors is __________ when competition is fierce in a market and low when competitors are more complacent.

Accepted Answer

The answer of Rivalry among existing competitors is __________ when...

Question 11

___________ 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.

Accepted Answer

The answer of ___________ value activities are found along the...

Question 12

Which of the following represents a typical supply chain?

Accepted Answer

A)  Company - Customers - Suppliers. 
B)  Company - Suppliers - Customers. 
C)  Suppliers - Company - Customers. 
D)  Suppliers - Customers - Company. 
A)  Company - Customers - Suppliers. 
B)  Company - Suppliers - Customers. 
C)  Suppliers - Company - Customers. 
D)  Suppliers - Customers - Company.

Question 13

When evaluating the value chain,which of the following is included in the support value activities?

Accepted Answer

A)  Inbound activities. 
B)  Marketing and sales. 
C)  Firm infrastructure. 
D)  Finance and sales. 
A)  Inbound activities. 
B)  Marketing and sales. 
C)  Firm infrastructure. 
D)  Finance and sales.

Question 14

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?

Accepted Answer

A)  Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases. 
B)  Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store. 
C)  Zevia Natural Diet Soda begins selling directly over the Internet. 
D)  Vitamin water, fruit juice, and coffee. 
A)  Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases. 
B)  Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store. 
C)  Zevia Natural Diet Soda begins selling directly over the Internet. 
D)  Vitamin water, fruit juice, and coffee.

Question 15

Mark Peterson identified the Five Forces Model,which analyzes the competitive forces within a business environment.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is not considered a category within the primary value activities in a value chain analysis?

Accepted Answer

A)  Inbound logistics. 
B)  Firm infrastructure. 
C)  Operations. 
D)  Service. 
A)  Inbound logistics. 
B)  Firm infrastructure. 
C)  Operations. 
D)  Service.

Question 17

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

Accepted Answer

A)  identical 
B)  high 
C)  low 
D)  unstable 
A)  identical 
B)  high 
C)  low 
D)  unstable

Question 18

What are the two main categories in a value chain analysis?

Accepted Answer

A)  Primary value activities and secondary value activities. 
B)  Primary value activities and support value activities. 
C)  Primary value activities and strengthening value activities. 
D)  None of these. 
A)  Primary value activities and secondary value activities. 
B)  Primary value activities and support value activities. 
C)  Primary value activities and strengthening value activities. 
D)  None of these.

Question 19

Shawn McGill is on the executive board for ABC Pharmaceuticals.The company produces the number-one-selling cancer-fighting drug on the market.Due to its incredible success,ABC pharmaceuticals has decided to increase the cost of the drug from $8 a pill to $15 a pill.Which force is ABC Pharmaceuticals using to increase its drug price?

Accepted Answer

A)  Supplier power. 
B)  Buyer power. 
C)  Threat of false entrants. 
D)  Business power. 
A)  Supplier power. 
B)  Buyer power. 
C)  Threat of false entrants. 
D)  Business power.

Question 20

Product differentiation occurs when a company develops unique differences in its products or services with the intent to influence demand.

Accepted Answer

A) True 
 B)False

Exam 2: Identifying Competitive Advantages

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

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

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

When applying Porter's three generic strategies,Tiffany & Co.has a competitive scope and cost strategy that is a __________.

What includes support-value activities and primary-value activities and is used to determine how to create the greatest possible value for customers?

According to Porter's three generic strategies for entering a market,if you have a focused strategy what market should you target?

Your boss,Kerry Miller,has asked you to analyze the soft drink industry using Porter's Five Forces Model.Which of the following represents supplier power in the soft drink industry?

With the Five Forces Model,companies should watch the forces in the market.If the forces are strong,competition generally increases,and if the forces are weak,competition typically decreases.

Rivalry among existing competitors is __________ when competition is fierce in a market and low when competitors are more complacent.

___________ 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.

Which of the following represents a typical supply chain?

When evaluating the value chain,which of the following is included in the support value activities?

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?

Mark Peterson identified the Five Forces Model,which analyzes the competitive forces within a business environment.

Which of the following is not considered a category within the primary value activities in a value chain analysis?

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

What are the two main categories in a value chain analysis?

Product differentiation occurs when a company develops unique differences in its products or services with the intent to influence demand.

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