Exam 6: Understanding Competitors: Analysis to Action

____________ occurs when a company leverages its existing expertise (technical product experience or supply chain)to create new products for existing or new markets.

The degree of competition is very high among a small group of major competitors in a ___________.

Marjorie is positioned to take over her family's farm, where the main crop is corn, when her father retires next year.Marjorie is used to working in an electric company in the town where she grew up.What are some things that Marjorie will need to be aware of in terms of products and competition while making this switch?

____________________ plays a critical role in defining a company's view of its own competitive environment.A company's tolerance for risk, attitude toward innovation, and willingness to invest in research and development are among the characteristics that play a part in decisions to enter new markets and create new products.

Golden Fish International, a koi pond company, is reevaluating its place in supply chain.They are considering taking on some of the responsibilities they used to entrust to other channel members.Explain the two ways this change can take place, and what happens to the competitive environment.

Harrison Travels is a complete travel planning company for individuals and families.Recently it decided to move into planning corporate events and tradeshows.How would you define this move?

The supply chain can be altered if a company _____________.

Teleconnect, a local telephone company, defines itself as a telecommunications company.In regards to corporate culture this is a problem because they should be more specific and refer to themselves as a telephone company.

The movement of raw materials into the manufacturing process and on to the final consumer links many companies through a complex logistics network and is known as the raw goods movement.

Companies develop product market combinations based on capabilities in a particular product area that it believes are transferable to new markets.

Discovering the competition through the customer's eyes expands a company's knowledge and understanding of the customers and the competition.

The primary issue with researching competitors today is not having too much, but having too little information.

The government can be a valuable source of information about competitors._____________________ is a good government source.

Zuma, a business consultant, has just been hired by one of the major American boat manufacturers.The manufacturers already know they operate in an oligopoly, however they want to know how they could start to charge higher prices.What should Zuma tell them?

_________________ offer(s)products considered very close substitutes for a company's current products and services.They operate in the same industry and are already known and part of a competitor analysis.

Clayton is aware that the ability to access financial resources and a quality workforce represents a significant advantage for a competitor.In order to understand his competitive landscape, Clayton should _____________________.

Whitney just got hired as a consultant for a regional supermarket chain in the South.In her first week of work she realized that this supermarket chain has not paid much attention to their competitors.At her first Friday meeting with her manager, she explains that she believes a competitive scenario analysis is necessary.Why is the competitive scenario analysis so important?

When all major airlines were suffering because of environmental and competitive issues, Southwest thrived because __________________.

A competitor's ____________ is regarded as a threat, while a competitor's ______________ is an opportunity to attack.

When GE switched from Jack Welch, to Jeffrey Immelt as CEO, the company experienced a change in culture away from _____________ and towards _____________.