On the whole there are more competitive responses to
- buyer pressures than to supplier pressures.
- tactical actions than to strategic actions.
- demands of top management than industry structural pressures.
- strategic actions than to tactical actions.
Firms with few competitive resources are more likely to
- respond quickly to competitive actions.
- not respond to competitive actions.
- respond to strategic actions, but not to tactical actions.
- delay responding to competitive actions.
Which of the following statements is FALSE?
- First movers tend to have more organizational slack than later movers.
- First movers tend to have significantly higher revenues than second movers.
- First movers have lower survival rates than second and late movers.
- First movers tend to take higher risks than second and later movers.
A second mover
- attempts to provide a product with greater customer value than the first mover’s product.
- typically has a higher survival rate than the first movers who typically take greater risks.
- is typically ineffective in its response to the first mover and can never compete with a similar product.
- usually incurs higher expenses than the first mover since it must engage in reverse engineering.
Everything that Hotel Chocolat does is based around chocoalate. This is an example of
- market commonality.
- market dependence.
- economies of scale.
- standard-cycle markets.
Multimarket competition occurs when firms
- simultaneously enter into an attack strategy.
- compete against each other in several geographic or product markets.
- sell different products to the same customer.
- have a high level of awareness of their competitors’ strategic intent.
Which industry can be LEAST described as a slow cycle market?
- Pharmaceuticals
- Cell phone provider
- Private ownership of highways and bridges
- Freight railroads
Which of the following markets are often described as volatile and innovative?
- Standard-cycle
- Fast-cycle
- Sheltered
- Slow-cycle
All competitive advantages do not accrue to large-sized firms. A major advantage of smaller firms is that they
- are more likely to have organizational slack.
- can wait for larger firms to make mistakes in introducing products.
- can launch competitive actions more quickly.
- have more loyal and diverse workforces.
Which PC maker has historically benefited the most from its reputation?
- IBM
- Compaq
- HP
- Dell