FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 2: Identifying Competitive Advantages

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 1

Multiple Choice

Review LaterAdd Note

Review Later

According to Porter, companies that wish to dominate broad markets should operate using a ________ strategy.

A) Cost leadership with a low cost
B) Differentiation with a low cost
C) Cost leadership with a high cost
D) All of these

E) A) and B)
F) A) and C)

Correct Answer

verified

Show Answer

Question 2

Multiple Choice

Review LaterAdd Note

Review Later

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

A) Technology development
B) Outbound logistics
C) Human resource management
D) Firm infrastructure

E) A) and D)
F) A) and C)

Correct Answer

verified

Show Answer

Question 3

Multiple Choice

Review LaterAdd Note

Updating business strategies is a continuous undertaking as internal and external environments ________.

Rivalry among existing competitors refers to the ability of buyers to affect the price they must pay for an item.

Describe Porter's Five Forces Model and explain each of the five forces.

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?

What is the support value activity that provides employees with training, hiring, and compensation?

Competitive advantages provide the same product or service either at a lower price or with additional value that can fetch premium prices.

Porter identified three generic strategies that a business could follow after identifying a market it wanted to enter.Which of the following is not included as one of Porter's three generic strategies?

There are many different stakeholders found in an organization.Stakeholders drive business strategies, and depending on the stakeholder's perspective, the business strategy can change.Which of the following is a main concern for partners/suppliers?

Michael Porter defined the Five Forces Model and the potential pressures that can hurt sales.Which of the following is not one of the potential pressures that can hurt sales?

Callie Crystal owns and operates one of the most successful local coffee shops in Denver, called The Edgewater Café.Each time customers purchases their 100^th cup of coffee at The Edgewater Café, they receive a free pound of coffee of their choice.What is Callie attempting to create with her unique "Free Pound of Coffee" marketing program?

What executes business strategy?

Which of the following demonstrates a company that has implemented a low cost, broad market strategy?

Sandy Fiero works as the chief knowledge officer for Bend Lumbar Company.She has been given the responsibility to create a product or service that will bring an added value to its customers to increase the company's revenue.Sandy determines that the best value she can add is by creating a service that offers free next day shipping on any order over $50.Where in the value chain is Sandy adding value?

In a SWOT analysis, potential external opportunities are helpful when they identify all significant trends along with how the organization can benefit from each, including new markets, additional customer groups, legal changes, innovative technologies, population changes, competitor issues, and so on.

What is buyer power?

In a SWOT analysis, potential internal weaknesses are harmful when they identify all key areas that require improvement.Weaknesses focus on the absence of certain strengths, including absence of an Internet marketing plan, damaged reputation, problem areas for service, outdated technology, employee issues, and so on.

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

Inbound logistics and operations are part of the primary value activities.