BSG Exam 1 Questions and Answers
Factors that weaken the rivalry among competing sellers include
High buyer costs to switch brands company industry rivals that any one company's actions have little impact on rivals' businesses, and rapid growth in buyer demand
Which one of the following co...
BSG Exam 1 Questions and Answers
Factors that weaken the rivalry among competing sellers include - answer High
buyer costs to switch brands company industry rivals that any one company's actions
have little impact on rivals' businesses, and rapid growth in buyer demand
Which one of the following conditions acts to intensify the competitive pressures
associated with the threat of entry? - answer A general belief on the part of entry
candidates that industry members are unwilling or unable to strongly contest the efforts
of newcomers to gain a market foothold
A competitive environment where there is strong rivalry among sellers, low entry
barriers, strong competition from substitute products, and considerable bargaining
leverage on the part of both suppliers and customers - answer Makes it hard for
industry members to earn attractive profits
Which one of the following is not a factor that affects the strength of supplier bargaining
power? - answer Whether there are greater or fewer than ten suppliers of the item
being purchased from suppliers
Potential entrants are more likely to be deterred from actually entering an industry when
- answer Industry incumbents are willing and able to launch strong defensive
maneuvers to maintain their positions and make it harder for a newcomer to compete
successfully and profitably
Which one of the following is not a useful question for company managers to pose in
trying to predict the likely actions of important rivals? - answer Which competitors are
in the best strategic group in the industry?
Which of the following is a major question to ask in assessing a company's industry and
competitive environment? - answer What forces are driving changes in the industry,
and what impact will these changes have on competitive intensity and industry
profitability?
The "driving forces" in an industry - answer are the major underlying causes of
changing industry and competitive conditions and have the biggest influence on how the
industry landscape will be altered
Which of the following statements about the market maneuvering for buyer patronage
that goes on among rival sellers of a product or service is false? - answer While
there is constant jockeying among industry members to improve their market position
and profits, the current market leaders have a 90% or better chance of continuing their
leadership and ultimately winning a sustainable competitive advantage over the other
industry contenders.
, The rivalry among competing sellers tends to become a stronger competitive force
when - answer the products of rival sellers are essentially identical or else weakly
differentiated.
Which of the following is generally not considered as a barrier to entry? - answer
Weak brand preference and low degrees of customer loyalty to existing brands
Which one of the following statements about strategic groups and strategic group
mapping is false? - answer The hardest aspect of strategic group mapping is always
figuring out which of several possible strategic group maps represents the single one
best map for portraying how competing firms are positioned.
Which of the following are important considerations in evaluating whether an industry's
outlook is conducive to good profitability? - answer The industry's growth potential,
the anticipated strength of competitive forces, and whether the industry and the
company are being favorably or unfavorably impacted by macro-environmental factors
Which of the following are most unlikely to qualify as driving forces? - answer
Mounting competition from substitutes, increasing efforts on the part of industry
members to collaborate with suppliers, and the speed with which the number of industry
key success factors is either rising or falling
In which of the following circumstances are competitive pressures associated with the
bargaining power of buyers not relatively strong? - answer When buyer demand is
growing rapidly and sellers' products are strongly differentiated
The competitive pressures from substitute products tend to be weaker when - answer
buyers have high costs in switching to substitutes
based on Figure 3.4, which of the following is not a typical competitive weapon that a
can use to battle rivals and attract buyers? - answer Constructing the biggest
production plant of any company in the industry
The best test of whether potential entry is a strong or weak competitive force is whether
- answer the industry's growth and profit prospects are strongly attractive to potential
entry candidates
The strongest of the competitive forces in the five-forces model of competition is usually
- answer the competitive pressures associated with the market maneuvering and
jockeying for buyer patronage among rival sellers in the industry
The term strategic group refers to - answer a cluster of industry rivals that employ
similar competitive approaches, have product offerings that appeal to similar types of
buyers, and thus occupy similar market positions
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