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Exam 6: Business-Level Strategy and the Industry Environment

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Question 31

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Successful companies in a mature industry are most interested in

A) increasing entry barriers.
B) reducing the power of suppliers.
C) reducing the threat of substitute products.
D) reducing entry barriers.
E) reducing the power of buyers.

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Question 32

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Which of the following strategies allows interdependent firms indirectly to coordinate their actions?

A) Cost cutting
B) Vertical integration
C) Preemption
D) Price signaling
E) Horizontal mergers

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Question 33

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Market development finds new market segments for a company's products.

Which of the following is a true statement?

Companies in a weak competitive position in the growth stage of the industry life cycle can use a market concentration strategy to find a viable competitive position.

By the shakeout stage of a product's life cycle,demand is

Imagine that a new product becomes available to the public tomorrow¾a personal transportation device that can move individuals or cargo from place to place instantly (yes,just like Star Trek).Industries such as airlines,auto manufacturing,railroads,and delivery services would immediately enter a severe decline.What advice would you give the firms in those industries? What strategies should they pursue,and why?

By their choices of competitive actions and decisions about product attributes,managers can speed up or slow down the rate of progress of an industry through the stages of the industry life cycle.

The late majority refers to the customers who purchase a new technology or product only when it is clear it will be around for a long time.

In his book Crossing the Chasm,Geoffrey Moore discusses some of the issues involved in marketing technologically new products as markets develop through different stages.What groups does Moore identify and what must companies do if they are to successfully cross the chasm?

Different strategies are often required to support and strengthen a company's business model as a market develops over time.

One characteristic of embryonic industries is poorly developed distribution channels.

In embryonic industries,customer demand is typically

Most market demand and industry profits arise when

Factors leading to the slow growth of demand in embryonic industries include all of the following except the

Innovators and early adopters are typically reached through specialized distribution channels,and products are often sold by word of mouth.

McDonald's created the first national chain of fast-food restaurants in a previously fragmented industry.This is called consolidation.

A horizontal merger is a

What advice would you give to a manager of a business in a fragmented industry about how to successfully compete? About how to achieve industry consolidation?

Market penetration involves the creation of new or improved products to replace existing ones.