Question 12 As the success of the athletic teams at O-MY-U skyrocketed, so did attendance at the games. Out-of-town visitors found all the hotels fully booked. So Bob and Shirley opened their home to guests on weekends, operating as a bed-and-breakfast. Soon many of their neighbors did the same and Bob and Shirley found they could no longer fill all their rooms every game weekend. How would Michael Porter explain this? Selected Answer:c. The focus strategy was imitated.Answers: a. The industry became further segmented.b. Demand disappeared.c. The focus strategy was imitated.d. The target segment lost its uniqueness. Question 13 Considering Michael Porter’s five factors, we can say that the fast food hamburger industry is characterized by:
Question 14 Drs. James and Janet Baker saw that many people experienced difficulty and frustration when typing, some because of physical disabilities. So they invented a voice recognition software to allow users to talk to the computer. Their ideas have become Dragon Naturally Speaking, a popular talk-to-type software application. Which of these statements describes their startup? Question 15 The general environment includes rival companies and products.
Question 16 Angela noticed an interest among her friends and colleagues in wearing high-end watches and other jewelry for special occasions, so she started a company where customers could rent high-end jewelry.Angela is Answers:a. cashing in on the sharing economy.b. imagining how a market for a product could be creatively expanded.c. offering products through a subscription service.d. considering ways to adapt a product or service to meet customer needs in a different way.
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- Small Business Management, Porter generic strategies