test2-_Srihavana[1] - CHAPTER 5 : Competitive Rivalry and...

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CHAPTER 5 : Competitive Rivalry and Competitive Dynamics 1. Firms operating in the same market, offering similar products and targeting similar customers are called:  competitors 2. Competitive rivalry has the most impact on the firm’s business-level  strategy. 3. Which of these refers to the set of competitive actions and competitive responses a firm takes to build or defend its  competitive advantages and to improve its market position? Competitive behavior 4. Multimarket competition: induces competitors to take aggressive action against rivals when attacked. 5. When firms compete against each other in several product or geographic markets, they are engaged in: multimarket   competition. 6. A firm which has fewer resourced than the competitor who attacks it: will have a longer delay in response than would a   firm with more resources. 7. The first step a firm takes to be able to predict the extent and nature of its rivalry with each competitor is a: competitor   analysis. 8. Market commonality  is concerned with the number of markets with which a firm and a competitor are jointly involved and  the degree of importance of the individual markets to each. 9. The extent to which a firm’s tangible and intangible resources are comparable to a competitor’s in terms of both type and  amount is called: resource similarity . 10. After doing research on the resurgence of patriotic feeling among Americans, a manufacturer of candy has  decided to market red, white, and blue versions of its basic candies for patriotic holidays, such as July 4. This is a:  tactical action . 11. A company without significant organizational slack is likely to be a late-mover. 12. A lack of awareness  can lead to excessive competition, resulting in a negative effect on all competitors’  performance. 13. Small firms: tend to be able to launch greater variety of competitive actions than larger firms. 14. Firms that produce products with poor quality: probably have high costs and declining sales revenue 15. Competitors respond more quickly to tactical actions  than to strategic actions. 16. Which of the following competitive behaviors is LEAST likely to be imitated by competitors? Price reductions by a   known price predator. 17. A competitive response  is a strategic or tactical action a firm takes to counter the effects of a competitor’s  competitive action.
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18. Which of the following is a market-based move that involves a significant commitment of organizational resources  and is difficult to implement and reverse? Strategic response 19. A manufacturer that specializes in kayaks for sea-kayaking can be classified as: market dependent. 20.
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This note was uploaded on 08/25/2008 for the course MGT 3830 taught by Professor Unknown during the Spring '06 term at LSU.

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test2-_Srihavana[1] - CHAPTER 5 : Competitive Rivalry and...

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