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OIM 210 Final Exam : Questions & Accurate Solutions
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OIM 210 Final Exam : Questions & Accurate Solutions
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OIM 210 Final Exam : Questions & Accurate SolutionsGoogle Maps integrated a couple of Uber features like the ability to Get an
Uber and see the estimated drop-off time. You can also see the estimated pick-
up time and price for your route. These two applications (Google and Uber)
can now talk to each other thanks to a programmatic hook called: Right
Ans - An application program interface (API)
Netscape, which once controlled more than 80 percent of the market share in
Web browsers, lost its dominant position when customers migrated to
Internet Explorer, Microsoft's Web browser. Internet Explorer was easy to
install and had no significant differences in terms of usability. This example
serves to illustrate that: Right Ans - firms with low switching costs can
sometimes be rapidly overtaken by strong rivals with additional competitive
advantages.
Dell, previously the world's number one PC manufacturer, has seen its market
share shrink because of rivals copying its value chain and reducing the price
advantage it enjoyed over rivals. Dell's present struggles: Right Ans -
underscore the importance of continually assessing a firm's strategic position
among changing market conditions.
"Geico spends more than a billion dollars per year on advertising. A firm can
spend so much money to raise awareness, but brands are built solely
through:" Right Ans - Customer experience
A used boat salesman often has more information about the reliability of
secondhand boats than their potential buyers. What may seem like a good
boat to a lightly informed client may actually be inadequate based on the
salesman's private information. This is what is described in business as:
Right Ans - Information Asymmetry
"When our grandparents bought a car they would go to a lot with an inflatable
man, maybe some streamers and a man wearing a nice polo shirt and a smile
would come out and say this is the car for you, $1500 and it s yours! They d
leave thinking they got a great deal, until they phoned their brother who had
bought the same car for $1275 a few towns over. Cars.com markets itself as a
way to change this by allowing the user to compare cars side by side showing
,features and prices from different dealers. This is an example of how the
internet has created _____________." Right Ans - Price transparency
How does Zara use a point-of-sale (POS) system in its business strategy?
Right Ans - To collect sales data for improving business decision making
_______ refers to companies' ability to spread investment costs over large
production quantity. Right Ans - Scale (or economies of scale)
Zara encourages employee use of technology by tying employee salaries to
sales performance. Right Ans - True
Zara's high fashion styles are inspired by customer tastes, with technology
used to gather data on preferences at given store locations. Right Ans -
True
E-Z Pass devices and Charlie cards have small chip-based tags that wirelessly
emit a unique identifying code for the item that they are attached to. These are
called _____. Right Ans - RFID
Firms that build an imitation-resistant value chain develop a way of doing
business that others struggle to replicate. Right Ans - True
We are more likely to Google things than to Bing them because: Right Ans -
Google used its time lead advantage and created a brand name that yielded a
sustainable competitive advantage that Bing could not match.
Strategic positioning is a competitive strategy that is all about: Right Ans -
Differentiation
Operational effectiveness refers to: Right Ans - performing the same tasks
better than rivals perform them.
Timing and technology alone will not yield sustainable competitive advantage.
Right Ans - True
"Wegmans just announced the launch of its new online store. The low prices
are very attractive, but Sean decides to stick with FreshDirect because
entering his credit card information, address, and contact information is a
, hassle. This switching cost is described as:" Right Ans - Information and
data costs
Zara s value chain is considered as vertically integrated because: Right Ans
- It owns more than one layer of their value chain.
The resource-based view of the firm is a way to think about: Right Ans -
Does a firm's differences position it well for long-term competition
Zara product design is informed mainly from which of the following? Right
Ans - Store data and consumer feedback
"In marketing, what does it mean to go ""viral""?" Right Ans - To leverage
consumers to promote a product or service through electronic word-of-mouth
Moving first pays off when the time lead is used to create: Right Ans -
critical resources for competitive advantage.
Inventory turnover is the number of times inventory is sold or used during a
given period. A higher figure means: Right Ans - a company is selling goods
very quickly and demand for their product is high.
"_____ are rivals who watch a pioneer's efforts, learn from their successes and
missteps, and then enter the market quickly with a comparable or superior
product at a lower cost." Right Ans - Fast followers
"Jack is buying a commodity good over the internet. He hops from one website
to the other to compare prices before making his purchase. According to
Porter s Five Force model, this is described as:" Right Ans - High Power of
buyers
The resource-based view of competitive advantage states that for a firm to
maintain sustainable competitive advantage it must control a set of
exploitable resources that have four critical characteristics. What are these
characteristics? Right Ans - rareness, value, imperfect imitability, non
substitutability
Column Headers are created to inform the reader about the column's content.
Right Ans - TRUE
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