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Exam 2: Identifying Competitive Advantages

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Question 31

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Amazon.com uses a customer-profiling system whenever a customer visits its website.Using this system,Amazon can offer products tailored to that particular customer's profile and buying pattern.What is Amazon using to achieve this competitive advantage?

A) Rivalry.
B) Buyer power.
C) Product differentiation.
D) Substitute product.

E) A) and C)
F) A) and B)

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Question 32

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Imagine you are creating a new product to sell in an up and coming market.Which of the following statements indicates that it would be difficult for you to enter this new market?

A) The threat-of-new-entrants is high in the up and coming market.
B) The threat-of-new-entrants is low in the up and coming market.
C) The threat-of-new-entrants is high during the summer months in the up-and-coming market.
D) All of these, depending on the time of year.

E) B) and D)
F) All of the above

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Question 33

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If a business is following a focused strategy,then its competitive scope is ________.

There are many challenges to changing doctors,including transferring medical records and losing the doctor-patient relationship along with the doctor's knowledge of the patient's history.Changing doctors provides a great example of switching costs.

The threat of substitute products or services is _____ when there are many alternatives to a product or service and low when there are few alternatives from which to choose.

Focused strategies concentrate on either cost leadership or ___________.

Which of the following analyzes a company's business processes and is useful for determining how to create the greatest possible value for customers?

Paula Logston is the owner and operator of a high-end online custom clothing company.Paula has never heard of Porter's Five Forces Model,and she wants to understand why she should perform an analysis using it.If you were tasked with explaining Porter's Five Forces Model to Paula,what would be the primary reason she would want to use this type of analysis?

Kevin Campbell is an incoming freshman at your college.Kevin is frustrated by the cost of books,tuition,and expenses,and he also needs to purchase a rather expensive laptop.In an effort to save money,Kevin begins a Facebook group finding other college students who need to purchase laptops.Soon,Kevin's Facebook group has close to 100,000 students.Kevin decides to collectively approach different computer companies to see if his group qualifies for a special discount.What business strategy is Kevin using to purchase laptops?

Imagine you are creating a new product to sell in an up and coming market.Which of the following statements indicates that it would be easy for you,as the new entrant,to compete in this market?

What is a feature of a product or service that customers have come to expect and that entering competitors must match if they want to survive?

Michael Porter defined the Five Forces Model and the potential pressures that can hurt sales.Which of the following is not one of the potential pressures that can hurt sales?

The value chain will group a company's activities into two categories: primary value activities and support value activities.

Broad differentiation,broad cost leadership,and _________ are the three generic strategies identified by Porter.

The Porter's Five Forces Model analyzes the competitive forces within the environment in which a company operates to assess the potential for __________ in an industry.

John Cleaver is the CEO of Tech World,which is a retail store that sells computers,monitors,cameras,televisions,and many other electronic products.John and his executive team are meeting to brainstorm new ideas on how to grow the business.One idea is to mimic the product of a competitor that is attempting to sell a new product in a different industry.After performing a Porter's Five Forces analysis,John determines that all of the forces are high in this new industry.What should John do?

Which of the following demonstrates a company that has implemented a low-cost,broad-market strategy?

MIS can add value to both primary and support activities within a business.Which of the following is not an example of a company adding value by the use of MIS in a support activity?

What is one of the most common ways a company can decrease supplier power?

Which of the following is a reason why competitive advantages are typically temporary?