Question 1

Porter's four generic strategies for achieving competitive advantage are:

Accepted Answer

A) price determination,cost leadership,product differentiation,distribution savings. 
B) cost leadership,product differentiation,cost challenger,product challenger. 
C) price leadership,product differentiation,price challenger,cost differentiation. 
D) cost leadership,product differentiation,cost focus,focused differentiation. 
E) cost leadership,product differentiation,consumer differentiation,focused differentiation. 
A) price determination,cost leadership,product differentiation,distribution savings. 
B) cost leadership,product differentiation,cost challenger,product challenger. 
C) price leadership,product differentiation,price challenger,cost differentiation. 
D) cost leadership,product differentiation,cost focus,focused differentiation. 
E) cost leadership,product differentiation,consumer differentiation,focused differentiation.

Question 2

Microsoft and Intel are two companies that illustrate the concept of "bargaining power of suppliers" in Porter's five forces model of industry competition.

Accepted Answer

A) True 
 B)False

Question 3

Gillette markets its flagship MACH3 razor in more than 100 countries around the world.The MACH3 is available virtually everywhere that consumers shop for personal-care products;because of its advanced 3-blade design,the MACH3 typically costs more than other wet-shaving systems.Which generic strategy is evident in Gillette's global marketing effort of MACH3?

Accepted Answer

A) cost leadership 
B) differentiation 
C) cost focus 
D) focused differentiation 
E) consumer focus 
A) cost leadership 
B) differentiation 
C) cost focus 
D) focused differentiation 
E) consumer focus

Question 4

The visionary strategy of the Chief Executive Officer of Volkswagen which included switching the German plants entirely to the new model,failed due to all but one of the following reasons:

Accepted Answer

A) resistance on the part of German unions. 
B) confusion among American dealers about where it was made. 
C) investment of billions of dollars in Skoda autoworks in Czechoslovakia. 
D) investment in SEAT in Spain. 
E) continued demand for Beetle model in the United States. 
A) resistance on the part of German unions. 
B) confusion among American dealers about where it was made. 
C) investment of billions of dollars in Skoda autoworks in Czechoslovakia. 
D) investment in SEAT in Spain. 
E) continued demand for Beetle model in the United States.

Question 5

The development of the MP3 file format for music was accompanied by the increased popularity of peer-to-peer (p-to-p)file swapping among music fans.

Accepted Answer

A) True 
 B)False

Question 6

Unique product attributes represent a barrier to industry entry known as differentiation.

Accepted Answer

A) True 
 B)False

Question 7

In the terminology of the strategic intent framework for competitive advantage,a firm that establishes advantages in a number of different areas has:

Accepted Answer

A) attribute diversity. 
B) marketing breadth. 
C) comparative advantage. 
D) layers of advantage. 
E) a "double diamond." 
A) attribute diversity. 
B) marketing breadth. 
C) comparative advantage. 
D) layers of advantage. 
E) a "double diamond."

Question 8

How do chance events play a role in shaping the competitive environment?

Accepted Answer

Chance events are occurrences that are b

Question 9

Which of the following is not one of the four arenas in which dynamic strategic interactions are played out in hypercompetitive industries?

Accepted Answer

A) cost / quality 
B) timing and know-how 
C) entry barriers 
D) deep pockets 
E) buyer and supplier power 
A) cost / quality 
B) timing and know-how 
C) entry barriers 
D) deep pockets 
E) buyer and supplier power

Question 10

The characteristics of home demand for a firm's products or services include all but one of the following:

Accepted Answer

A) the composition of home demand. 
B) the size of the home demand. 
C) pattern of the growth of the home demand. 
D) means by which the home demand pushes or pulls foreign markets. 
E) the size of the competitors share of the home demand. 
A) the composition of home demand. 
B) the size of the home demand. 
C) pattern of the growth of the home demand. 
D) means by which the home demand pushes or pulls foreign markets. 
E) the size of the competitors share of the home demand.

Question 11

A firm that has the skills to be a "first mover" and arrive first in the market has achieved a know-how advantage.

Accepted Answer

A) True 
 B)False

Question 12

In the 1950s,Sony licensed the technology for the transistor from Bell Labs and proceeded to become the world's leading manufacturer of portable radios.Which strategy was Sony using to gain competitive advantage?

Accepted Answer

A) collaboration 
B) layers of advantage 
C) changing the rules 
D) loose bricks 
E) engagement 
A) collaboration 
B) layers of advantage 
C) changing the rules 
D) loose bricks 
E) engagement

Question 13

When managers at Matsushita realized that cost advantages in TV production were often fleeting,they added quality and reliability advantages,thus establishing:

Accepted Answer

A) loose bricks. 
B) a "double diamond." 
C) attribute diversity. 
D) layers of advantage. 
E) buyer power. 
A) loose bricks. 
B) a "double diamond." 
C) attribute diversity. 
D) layers of advantage. 
E) buyer power.

Question 14

Intel's focus on designing complex,expensive microprocessors for PCs enabled competitors to develop cheaper chip sets for non-PC electronics devices.In the strategic intent model of competitive advantage,this is an example of:

Accepted Answer

A) building layers of advantage. 
B) loose bricks. 
C) changing the rules of engagement. 
D) collaborating. 
E) none of the above 
A) building layers of advantage. 
B) loose bricks. 
C) changing the rules of engagement. 
D) collaborating. 
E) none of the above

Question 15

Factors which determine suppliers' ability to gain leverage over industry firms include all of the following except:

Accepted Answer

A) large numbers and relatively few in number. 
B) suppliers' products or services are important to user firms. 
C) suppliers' products or services are highly differentiated. 
D) alternative products do not threaten suppliers' business. 
E) buyers preferences are highly differentiated. 
A) large numbers and relatively few in number. 
B) suppliers' products or services are important to user firms. 
C) suppliers' products or services are highly differentiated. 
D) alternative products do not threaten suppliers' business. 
E) buyers preferences are highly differentiated.

Question 16

Jaguar produced so few cars that it couldn't get volume discounts from components suppliers.Jaguar managers sometimes could not even determine the "fair" price for a particular part.In terms of Porter's competitive forces framework,Jaguar's strategic disadvantage stemmed from low:

Accepted Answer

A) buyer power. 
B) supplier power. 
C) threat of new entrants. 
D) threat of substitute products. 
E) access to distribution channels. 
A) buyer power. 
B) supplier power. 
C) threat of new entrants. 
D) threat of substitute products. 
E) access to distribution channels.

Question 17

A useful way of gaining insight into competitors is through industry analysis.

Accepted Answer

A) True 
 B)False

Question 18

Building layers of advantage,searching for loose bricks,changing the rules of competitive engagement,and collaborating are elements of Hamel and Prahalad's framework for:

Accepted Answer

A) quality advantage. 
B) positioning. 
C) competitive innovation. 
D) marketing management. 
E) innovation leadership. 
A) quality advantage. 
B) positioning. 
C) competitive innovation. 
D) marketing management. 
E) innovation leadership.

Question 19

Intel's focus on designing complex,expensive microprocessors for PCs enabled competitors to develop cheaper chip sets for non-PC electronics devices.In the strategic intent model of competitive advantage,this is an example of "loose bricks."

Accepted Answer

A) True 
 B)False

Question 20

The key to maintaining competitive advantage,according to Dr.W.E.Deming as well as your textbook authors,is:

Accepted Answer

A) being committed to constant improvement. 
B) being first to market with all products. 
C) outsourcing key components. 
D) challenging all market leaders. 
E) stressing low-price advantage in all areas. 
A) being committed to constant improvement. 
B) being first to market with all products. 
C) outsourcing key components. 
D) challenging all market leaders. 
E) stressing low-price advantage in all areas.

Porter's four generic strategies for achieving competitive advantage are:

Microsoft and Intel are two companies that illustrate the concept of "bargaining power of suppliers" in Porter's five forces model of industry competition.

The visionary strategy of the Chief Executive Officer of Volkswagen which included switching the German plants entirely to the new model,failed due to all but one of the following reasons:

The development of the MP3 file format for music was accompanied by the increased popularity of peer-to-peer (p-to-p)file swapping among music fans.

Unique product attributes represent a barrier to industry entry known as differentiation.

In the terminology of the strategic intent framework for competitive advantage,a firm that establishes advantages in a number of different areas has:

How do chance events play a role in shaping the competitive environment?

Which of the following is not one of the four arenas in which dynamic strategic interactions are played out in hypercompetitive industries?

The characteristics of home demand for a firm's products or services include all but one of the following:

A firm that has the skills to be a "first mover" and arrive first in the market has achieved a know-how advantage.

In the 1950s,Sony licensed the technology for the transistor from Bell Labs and proceeded to become the world's leading manufacturer of portable radios.Which strategy was Sony using to gain competitive advantage?

When managers at Matsushita realized that cost advantages in TV production were often fleeting,they added quality and reliability advantages,thus establishing:

Intel's focus on designing complex,expensive microprocessors for PCs enabled competitors to develop cheaper chip sets for non-PC electronics devices.In the strategic intent model of competitive advantage,this is an example of:

Factors which determine suppliers' ability to gain leverage over industry firms include all of the following except:

Jaguar produced so few cars that it couldn't get volume discounts from components suppliers.Jaguar managers sometimes could not even determine the "fair" price for a particular part.In terms of Porter's competitive forces framework,Jaguar's strategic disadvantage stemmed from low:

A useful way of gaining insight into competitors is through industry analysis.

Building layers of advantage,searching for loose bricks,changing the rules of competitive engagement,and collaborating are elements of Hamel and Prahalad's framework for:

Intel's focus on designing complex,expensive microprocessors for PCs enabled competitors to develop cheaper chip sets for non-PC electronics devices.In the strategic intent model of competitive advantage,this is an example of "loose bricks."

The key to maintaining competitive advantage,according to Dr.W.E.Deming as well as your textbook authors,is:

Introduction to Global Marketing

The Global Economic Environment

The Global Trade Environment

Social and Cultural Environments

The Political,legal,and Regulatory Environments

Global Information Systems and Market Research

Segmentation,targeting,and Positioning

Importing,exporting,and Sourcing

Global Market Entry Strategies: Licensing,investment,and Strategic Alliances

Brand and Product Decisions in Global Marketing

Pricing Decisions

Global Marketing Channels and Physical Distribution

Global Marketing Communications Decisions I: Advertising and Public Relations

Global Marketing Communications Decisions Ii: Sales Promotion, personal Selling, and Special Forms of Marketing Communication

Global Marketing and the Digital Revolution

Leadership, organization, and Corporate Social Responsibility

Filters

Exam 16: Strategic Elements of Competitive Advantage

Porter's four generic strategies for achieving competitive advantage are:

Microsoft and Intel are two companies that illustrate the concept of "bargaining power of suppliers" in Porter's five forces model of industry competition.

The visionary strategy of the Chief Executive Officer of Volkswagen which included switching the German plants entirely to the new model,failed due to all but one of the following reasons:

The development of the MP3 file format for music was accompanied by the increased popularity of peer-to-peer (p-to-p)file swapping among music fans.

Unique product attributes represent a barrier to industry entry known as differentiation.

In the terminology of the strategic intent framework for competitive advantage,a firm that establishes advantages in a number of different areas has:

How do chance events play a role in shaping the competitive environment?

Which of the following is not one of the four arenas in which dynamic strategic interactions are played out in hypercompetitive industries?

The characteristics of home demand for a firm's products or services include all but one of the following:

A firm that has the skills to be a "first mover" and arrive first in the market has achieved a know-how advantage.

In the 1950s,Sony licensed the technology for the transistor from Bell Labs and proceeded to become the world's leading manufacturer of portable radios.Which strategy was Sony using to gain competitive advantage?

When managers at Matsushita realized that cost advantages in TV production were often fleeting,they added quality and reliability advantages,thus establishing:

Intel's focus on designing complex,expensive microprocessors for PCs enabled competitors to develop cheaper chip sets for non-PC electronics devices.In the strategic intent model of competitive advantage,this is an example of:

Factors which determine suppliers' ability to gain leverage over industry firms include all of the following except:

Jaguar produced so few cars that it couldn't get volume discounts from components suppliers.Jaguar managers sometimes could not even determine the "fair" price for a particular part.In terms of Porter's competitive forces framework,Jaguar's strategic disadvantage stemmed from low:

A useful way of gaining insight into competitors is through industry analysis.

Building layers of advantage,searching for loose bricks,changing the rules of competitive engagement,and collaborating are elements of Hamel and Prahalad's framework for:

Intel's focus on designing complex,expensive microprocessors for PCs enabled competitors to develop cheaper chip sets for non-PC electronics devices.In the strategic intent model of competitive advantage,this is an example of "loose bricks."

The key to maintaining competitive advantage,according to Dr.W.E.Deming as well as your textbook authors,is:

Introduction to Global Marketing

The Global Economic Environment

The Global Trade Environment

Social and Cultural Environments

The Political,legal,and Regulatory Environments

Global Information Systems and Market Research

Segmentation,targeting,and Positioning

Importing,exporting,and Sourcing

Global Market Entry Strategies: Licensing,investment,and Strategic Alliances

Brand and Product Decisions in Global Marketing

Pricing Decisions

Global Marketing Channels and Physical Distribution

Global Marketing Communications Decisions I: Advertising and Public Relations

Global Marketing Communications Decisions Ii: Sales Promotion, personal Selling, and Special Forms of Marketing Communication

Global Marketing and the Digital Revolution

Leadership, organization, and Corporate Social Responsibility

Filters