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Exam 2: Strategy and Technology: Concepts and Frameworks for Understanding What Separates Winners From Losers

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Question 31

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A firm can benefit from high switching costs, even when rivals offer free products.

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Question 32

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_____, also known as the Industry and Competitive Analysis, is a popular framework for examining a firm's competitive environment.

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Porter's f...

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Question 33

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A(n) _____ is the symbolic embodiment of all the information connected with a product or service.

According to Porter, strategy is fundamentally about being _____.

Which of the following is a source of bargaining power of buyers?

Consumers buying commodities are highly _____ since they have so many similar choices.

List the various components of a value chain and give a brief description of each of them.

The degree to which complete information is available is known as _____.

_____ Law is said to be at play when the value of a product or service increases as its number of users expands.

A salesperson's ability to effectively bargain with his/her consumers is called viral marketing.

Which of the following is one of Porter's five forces?

Cisco's acquisition of Pur Digital, makers of the Flip video camera line, was largely considered a flop because comparable technology soon became a feature in other popular consumer electronics products.

A trademark is the symbolic embodiment of all the information connected with a product or service of a firm.

_____ are products or services that are nearly identically offered from multiple vendors.

Uber is an example of a business model that has strengthened the bargaining power of suppliers (cab drivers) with respect to middlemen who took a cut of their services (e.g. cab companies).

More recently, Apple has leveraged its _____ platform as a distribution channel to launch a new subscription service. Just nine months after launching the Apple Music, the firm had attracted over 13 million paying subscribers to its streaming service..

How does FreshDirect leverage an imitation-resistant value chain to repel rivals?

Leveraging consumers to promote a product or service is known as _____.

Which of the following represents one of the primary components of the value chain?

Time and technology can be enablers for competitive advantage. Explain this statement.