Practice-Exam1-Spring2008-J401

Practice-Exam1-Spring2008-J401 - Spring2008-J401 Student:

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Unformatted text preview: Spring2008-J401 Student: ___________________________________________________________________________ 1. Competitive jockeying and market maneuvering among industry rivals A.determines whether the industry's strategic group map will be static or dynamic. B.centers around collaborative efforts to overcome the bargaining power of powerful suppliers and powerful buyers. C.is usually an industry's strongest driving force. D.is usually one of the two or three weakest competitive forces because of the close familiarity that rivals have for one another's likely next moves and the ability to make advance preparations for countering such moves. E.is ever-changing as fresh offensive and defensive moves are initiated and as rivals emphasize first one mix of competitive weapons and tactics and then another. 2. A company's mission statement typically addresses which of the following questions? A."Who are we and what do we do?" B."What objectives and level of performance do we want to achieve?" C."Where are we going and what should our strategy be?" D."What approach should we take to achieve sustainable competitive advantage?" E."What business model should we employ to achieve our objectives and our vision?" 3. Whether a broad differentiation strategy ends up enhancing company profitability depends mainly on whether A.many buyers view the product's differentiating features as having value. B.most buyers have similar needs and use the product in the same ways. C.unit sales increase and the extra price the product commands exceeds the added costs of achieving the differentiation. D.buyer switching costs are low and customer loyalty to any one brand is low. E.buyers are prone to shop the market for sellers having the best price. 1 4. The advantages of using a franchising strategy to pursue opportunities in foreign markets include A.having franchisees bear most of the costs and risks of establishing foreign locations and requiring the franchiser to expend only the resources to recruit, train, and support foreign franchisees. B.being particularly well suited to the global expansion efforts of companies with multicountry strategies. C.helping build multiple profit sanctuaries. D.being well suited to companies who employ cross-market subsidization. E.being well suited to the global expansion efforts of manufacturers. 5. Which one of the following does not cause the rivalry among competing sellers to be weak? A.High buyer switching costs B.Rapid growth in buyer demand C.Industry conditions that tempt rivals to use price cuts or other competitive weapons to boost unit sales D.Low barriers to entry E.Strongly differentiated products among rival sellers 6. Whether buyer-seller relationships in an industry represent a strong or weak source of competitive pressure is a function of A.the speed with which general economic conditions and interest rates are changing....
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Practice-Exam1-Spring2008-J401 - Spring2008-J401 Student:

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