Podcast
Questions and Answers
Which of the following is not a factor that can give newer companies an advantage?
Which of the following is not a factor that can give newer companies an advantage?
- Older equipment (correct)
- Younger workforce
- New efficiencies
- New product offerings
Which of the following scenarios presents the greatest customer switching difficulty, and thus, decreases the competitive force of customers?
Which of the following scenarios presents the greatest customer switching difficulty, and thus, decreases the competitive force of customers?
- Customers face high switching costs and cannot easily switch to competitor's products (correct)
- Customers easily switch to competitor's products due to low switching costs
- Customers have a wide array of competitor products to choose from
- Customers can force firms to compete solely based on price
Which industry is most likely to have lower barriers to market entry, making it easier for new entrants?
Which industry is most likely to have lower barriers to market entry, making it easier for new entrants?
- Aerospace engineering
- Telecommunications
- Microchip manufacturing
- Food service (correct)
What is the most likely effect of substitute products and services on a company's pricing strategy?
What is the most likely effect of substitute products and services on a company's pricing strategy?
How does a firm's control over suppliers impact its competitive positioning?
How does a firm's control over suppliers impact its competitive positioning?
Which of the following scenarios is most likely to result in a firm exercising the greatest control over its suppliers?
Which of the following scenarios is most likely to result in a firm exercising the greatest control over its suppliers?
Which of the following scenarios is most likely to result in customers forcing a firm and its competitors to compete on price alone?
Which of the following scenarios is most likely to result in customers forcing a firm and its competitors to compete on price alone?
Which of the following is most likely to give newer companies an advantage when entering a market with traditional competitors?
Which of the following is most likely to give newer companies an advantage when entering a market with traditional competitors?
Which of the following is most likely to result in a customer easily switching to a competitor's product?
Which of the following is most likely to result in a customer easily switching to a competitor's product?
Which of the following industries is most likely to have low barriers to entry, making it easier for new entrants?
Which of the following industries is most likely to have low barriers to entry, making it easier for new entrants?
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