BSG Exam 1 (100% Correct) Questions and Answers Rated A+
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Course
BSG
Institution
BSG
BSG Exam 1 (100% Correct) Questions and
Answers Rated A+
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 o...
BSG Exam 1 (100% Correct) Questions and
Answers Rated A+
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 conditions acts to intensify the competitive pressures associated with
the threat of entry? - 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 - 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? -
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 - 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? - 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? - What forces are driving changes in the industry, and what impact will these changes
have on competitive intensity and industry profitability?
,AGRADESTUVIA
The "driving forces" in an industry - 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? - 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 - 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? - 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?
- 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? - 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? - 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? - When buyer demand is growing rapidly and sellers'
products are strongly differentiated
, AGRADESTUVIA
The competitive pressures from substitute products tend to be weaker when - 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? - 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 - 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 - 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 - 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
A company's strategy is defined by - the specific market positioning, competitive moves, and
business approaches that form management's answer to "What's our plan for running the company
and producing good results?"
A company's strategy consists of - the competitive moves and business approaches that managers
employ to attract and please customers, compete successfully, pursue opportunities to grow the
business, respond to changing market conditions, conduct operations, and achieve the targeted
financial and market performance
Managerial Commitment incorporates choices and decisions about: - - how to attract and please
customers
- how to compete against rivals - and ideally, gain a competitive advantage as opposed to being
hamstrung by competitive disadvantage
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