Question 1

Which of the following statements is true about customer needs?

Accepted Answer

A)  Companies that meet the need for communication by manufacturing mobile handsets or mobile ham radios are considered part of the same industry. 
B)  Understanding them can be very helpful in defining the boundaries of an industry. 
C)  They should be addressed only when many customers have similar needs that require attention. 
D)  Two firms cannot be considered part of the same industry even if their products do the same job for customers. 
A)  Companies that meet the need for communication by manufacturing mobile handsets or mobile ham radios are considered part of the same industry. 
B)  Understanding them can be very helpful in defining the boundaries of an industry. 
C)  They should be addressed only when many customers have similar needs that require attention. 
D)  Two firms cannot be considered part of the same industry even if their products do the same job for customers.

Question 2

Mention the general environmental factors that can affect the profit potential of a firm.Briefly explain the factors of technological change and social/cultural forces.

Accepted Answer

The eight categories that help shape the

Question 3

Barriers that help keep firms using the same supplier or buyer by imposing extra costs for substituting suppliers or buyers are known as _____.

Accepted Answer

The answer of Barriers that help keep firms using the...

Question 4

SliderPage Inc., a furniture company, has been trying hard to keep its profits going.SliderPage asked its suppliers to reduce the cost of the raw materials that would be needed to create its products and also tried to buy supplies that are less expensive.Which of the following buyer price sensitivity factors is best illustrated in this scenario?

Accepted Answer

A)  Product is significant proportion of buyer's costs 
B)  Buyers struggling financially 
C)  Buyers purchase in large volumes 
D)  Product does not affect buyers' performance 
A)  Product is significant proportion of buyer's costs 
B)  Buyers struggling financially 
C)  Buyers purchase in large volumes 
D)  Product does not affect buyers' performance

Question 5

CoolDrink Inc., a beverage company, had to change its medical insurance policies because of a new federal law.The new law required all companies with over 50 full-time employees to provide health insurance for their employees.In case these companies are unable to do so, they would have to face penalty.CoolDrink Inc.had to implement changes due to _____.

Accepted Answer

A)  global forces 
B)  regulatory forces 
C)  demographic forces 
D)  natural forces 
A)  global forces 
B)  regulatory forces 
C)  demographic forces 
D)  natural forces

Question 6

Smart Waves Inc., a company that sells computers, provides an external hard disk along with its high-end professional laptops.Customers can store extra data in these hard disks without having to purchase them.The offer that Smart Waves provides is an example of _____.

Accepted Answer

A)  complementary products 
B)  network effects 
C)  buyer power 
D)  substitutes 
A)  complementary products 
B)  network effects 
C)  buyer power 
D)  substitutes

Question 7

SevenCloud Inc., a soft drink company, provided service to fair amount of customers for a whole year until a new company called Sparkle Inc.came up.Sparkle provided flavored water as a new product in the beverage market.Customers were eager to try out this new product and purchased it because they believed that it a better substitute for aerated beverages.SevenCloud was afraid that if the trend continued, it would soon run the risk of going out of business.In this scenario, which of the following did SevenCloud Inc.experience?

Accepted Answer

A)  Opportunity 
B)  Threat 
C)  Weakness 
D)  Merger 
A)  Opportunity 
B)  Threat 
C)  Weakness 
D)  Merger

Question 8

Products that can be used in tandem with those from another industry best define the term _____.

Accepted Answer

A)  standardized products 
B)  cannibalizing products 
C)  complementary products 
D)  supplementary products 
A)  standardized products 
B)  cannibalizing products 
C)  complementary products 
D)  supplementary products

Question 9

Summer Corp., a retailer of consumer electronics, has been experiencing high profits because an increasing percentage of the customers have sufficient disposable income to afford its products.Similar companies have also experienced a boom in customer demand.Which of the following macroeconomic forces is Summer Corp.experiencing?

Accepted Answer

A)  Currency exchange rate 
B)  Economic growth 
C)  Interest rate 
D)  Inflation 
A)  Currency exchange rate 
B)  Economic growth 
C)  Interest rate 
D)  Inflation

Question 10

OneTick Shop Inc.experienced a loss of finances in the small town of Brightland as a lot of people from the town moved to bigger cities in search of jobs.This resulted in a loss of both returning as well as new customers.This scenario primarily reflects _____.

Accepted Answer

A)  regulatory forces 
B)  global forces 
C)  environmental forces 
D)  demographic forces 
A)  regulatory forces 
B)  global forces 
C)  environmental forces 
D)  demographic forces

Which of the following statements is true about customer needs?

Mention the general environmental factors that can affect the profit potential of a firm.Briefly explain the factors of technological change and social/cultural forces.

Barriers that help keep firms using the same supplier or buyer by imposing extra costs for substituting suppliers or buyers are known as _____.

Smart Waves Inc., a company that sells computers, provides an external hard disk along with its high-end professional laptops.Customers can store extra data in these hard disks without having to purchase them.The offer that Smart Waves provides is an example of _____.

Products that can be used in tandem with those from another industry best define the term _____.

OneTick Shop Inc.experienced a loss of finances in the small town of Brightland as a lot of people from the town moved to bigger cities in search of jobs.This resulted in a loss of both returning as well as new customers.This scenario primarily reflects _____.

What Is Business Strategy?

Internal Analysis: Strengths, Weaknesses, and Competitive Advantage

Cost Advantage

Differentiation Advantage

Corporate Strategy

Vertical Integration and Outsourcing

Strategic Alliances

International Strategy

Innovative Strategies That Change the Nature of Competition

Competitive Strategy

Implementing Strategy

Corporate Governance and Ethics

Strategy and Society

Filters

Exam 2: Analysis of the External Environment: Opportunities and Threats

Which of the following statements is true about customer needs?

Mention the general environmental factors that can affect the profit potential of a firm.Briefly explain the factors of technological change and social/cultural forces.

Barriers that help keep firms using the same supplier or buyer by imposing extra costs for substituting suppliers or buyers are known as _____.

Smart Waves Inc., a company that sells computers, provides an external hard disk along with its high-end professional laptops.Customers can store extra data in these hard disks without having to purchase them.The offer that Smart Waves provides is an example of _____.

Products that can be used in tandem with those from another industry best define the term _____.

OneTick Shop Inc.experienced a loss of finances in the small town of Brightland as a lot of people from the town moved to bigger cities in search of jobs.This resulted in a loss of both returning as well as new customers.This scenario primarily reflects _____.

What Is Business Strategy?

Internal Analysis: Strengths, Weaknesses, and Competitive Advantage

Cost Advantage

Differentiation Advantage

Corporate Strategy

Vertical Integration and Outsourcing

Strategic Alliances

International Strategy

Innovative Strategies That Change the Nature of Competition

Competitive Strategy

Implementing Strategy

Corporate Governance and Ethics

Strategy and Society

Filters