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Exam 2: Identifying Competitive Advantages

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Question 51

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Your boss,Kerry Miller,has asked you to analyze the soft drink industry using Porter's five-forces model.Which of the following represents buyer power in the soft drink industry?

A) Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B) Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C) Zevia Natural Diet Soda begins selling directly over the Internet.
D) Vitamin water, fruit juice, and coffee.

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

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Question 52

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Your boss,Kerry Miller,has asked you to analyze the soft drink industry using Porter's five-forces model.Which of the following represents supplier power in the soft drink industry?

A) Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B) Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C) Zevia Natural Diet Soda begins selling directly over the Internet.
D) Vitamin water, fruit juice, and coffee.

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

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Question 53

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Michael Porter identified pressures that can hurt potential sales.Knowledgeable customers can force __________ prices by pitting rivals against each other.

Which of the following is not considered a category within the support value activities in a value chain analysis?

With the Five-Forces Model,companies should watch the forces in the market.If the forces are strong,competition generally increases,and if the forces are weak,competition typically decreases.

Compare Porter's three generic strategies.

Porter's Five-Forces Model outlines the process for a sales strategy.

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

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.

Greg Provenzo owns and runs a Blockbuster video store.Greg is implementing a drive-thru rental process that is the same as you would find at a fast-food restaurant.Customers can pick up and drop off their videos without leaving their cars.Greg's new system has become so popular that Videos Plus,a competitor down the street,is attempting to re-create Greg's video drive-thru rental process.Greg's system is an example of a _________.

A __________ advantage features a product or service on which customers place a greater value than they do on similar offerings from competitors.

Shawn McGill is on the executive board for ABC Pharmaceuticals.The company produces the number-one-selling cancer-fighting drug on the market.Due to its incredible success,ABC pharmaceuticals has decided to increase the cost of the drug from $8 a pill to $15 a pill.Which force is ABC Pharmaceuticals using to increase its drug price?

Your boss,Kerry Miller,has asked you to analyze the soft drink industry using Porter's five-forces model.Which of the following represents rivalry in the soft drink industry?

Your boss,Tom Repicci,has asked you to analyze the airline industry using Porter's three generic strategies.Which of the following companies are using a focused strategy?

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

What are the two main categories in a value chain analysis?

Porter has identified three generic business strategies,including focused,broad cost leadership,and switching strategy.

Updating business strategies is a continuous undertaking,as internal and external environments ________.

What includes all parties involved,directly or indirectly,in obtaining raw materials or a product?

When a company is the first to market with a competitive advantage,this is called a first-mover advantage.All of the following companies were first-movers except ____________.