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Exam 5: Industry and Competitor Analysis

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Question 41

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Tim Rutherford is thinking about starting a firm in the medical equipment industry. In the industry analysis Tim has been conducting, one thing he has noticed is that the medical equipment industry is characterized by buyer group concentration. This factor concerns Tim because it tells him that the profitability of the medical equipment industry is potentially suppressed by the ________.

A) threat of substitutes
B) bargaining power of buyers
C) rivalry among existing firms
D) bargaining power of suppliers
E) threat of new entrants

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Question 42

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Each quarter, Craig Anderson, who owns a chain of auto repair shops, does a detailed analysis of his firm's competitors. This analysis is called ________ analysis.

A) competitor
B) challenger
C) strategic
D) participant
E) industry

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Question 43

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

In the context of competitor analysis, businesses that offer identical or similar products are referred to as ________ competitors.

Kellen West recently launched a firm in the fruit drink industry, and has already exported his fruit drinks to 11 different countries. One thing that Kellen's firm is doing is that it is varying the tastes of the fruit drinks it sells on a country-by-country basis to meet the demands of the local markets. Kellen's firm is pursuing a ________ strategy.

A(n) ________ industry is an industry that is experiencing slow or no increase in demand.

A comparison analysis is a detailed evaluation of a firm's competitors.

What is competitive intelligence? What are some of the ways that a firm can ethically obtain information about its competitors?

Amy has just launched a firm in the sports drink industry. She has decided to complete a grid to see how she stacks up against her competitors. Along the horizontal axis of the grid she lists her firm along with her major competitors. Along the vertical axis of the grid she lists the main competitive factors in her industry. Amy is completing a ________.

An industry is a group of firms producing a similar product or service, such as tires, life insurance, or smartphone apps.

If the buyers are concentrated and they buy from a large number of suppliers, then the bargaining power of buyers is increased.

The information that is gathered by a firm to learn about its competitors is referred to as tactical intelligence.

WriteLab, the company profiled in the opening feature of Chapter 5, believes it has created a barrier to entry to enable it to maintain a leadership position in the education industry. Its barrier to entry is ________.

A fragmented industry is a new industry in which standard operating procedures have yet to be developed.

The five competitive forces model is a framework for understanding the structure of an industry.