Exam 5: Industry and Competitor Analysis

According to the textbook, Nucor in steel, JetBlue in airlines, and Cirque du Soleil in circuses are examples of entrepreneurial firms who are exploiting opportunities in ________ industries.

Brain Sentry is starting a firm in the small industry that helps football teams discern whether a player has suffered a concussion. This industry is still so new that no standard operating procedures have been developed. The industry Brain Sentry is entering is an example of a(n) ________ industry.

Once a firm decides to enter an industry and chooses a market in which to compete, it must gain an understanding of its competitive environment. This challenge can be undertaken by completing a(n) ________ analysis.

The primary opportunity available to firms in fragmented industries is consolidation. The most common way to do this is through a geographic roll-up strategy, in which one firm starts acquiring similar firms that are located in different geographic areas.

According to the textbook, Chipotle Mexican Grill in fast-casual restaurants and 1-800-GOT_JUNK? in junk removal are examples of entrepreneurial firms who are exploiting opportunities in ________ industries.

According to the textbook, Justin's in peanut butter, Rover.com in dog care, and Zagster in bike sharing are examples of entrepreneurial firms who are exploiting opportunities in ________ industries.

There are four factors that determine the threat of new entrants: number and balance of competitors, degree of difference between products, growth rate of an industry, and level of fixed costs.

If a startup pioneers an industry or a new concept within an industry, the name recognition the startup establishes may create a formidable nontraditional barrier to entry referred to as a(n) ________.

Firms that pursue a(n) ________ strategy compete for market share on a country-by-country basis and vary their product or service offerings to meet the demands of the local market.

A firm's future competitors are its most important ones.

What is industry analysis? Why is it important for a new venture to complete a thorough analysis of the industry it is entering?

A competitive analysis grid is a tool for organizing the information a firm collects about its competitors.

According to the textbook, the Five Forces model can be used in the following two ways: ________.

In general, industries are more attractive when the ________.

The primary opportunity existing for startups in emerging industries is to ________.

In various studies, researchers have found that from ________ percent of the variation in firm profitability is directly attributable to the industry in which a firm competes.

According to the textbook, the first step in a competitor analysis is to ________.

The best industry to enter is an industry where the threat of each of Porter's five forces is high.

In the context of competitor analysis, ________ competitors offer close substitutes to the product sold by the firm completing the analysis.

Discuss the nontraditional barriers to entry identified in the chapter. Why is it important that entrepreneurial firms utilize one or more of these forms of barriers to entry?