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Exam 2: Identifying Competitive Advantages

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Question 21

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What is the support value activity that hires employees and provides them with training and compensation?

A) Procurement.
B) Operations resource management.
C) Human resource management.
D) Firm infrastructure.

E) B) and C)
F) C) and D)

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Question 22

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Kevin Campbell is an incoming freshman at your college.Kevin is frustrated by the cost of books,tuition,and expenses,and he also needs to purchase a rather expensive laptop.In an effort to save money,Kevin begins a Facebook group finding other college students who need to purchase laptops.Soon,Kevin's Facebook group has close to 100,000 students.Kevin decides to collectively approach different computer companies to see if his group qualifies for a special discount.What business strategy is Kevin using to purchase laptops?

A) Collecting business intelligence.
B) Decreasing entry barriers.
C) Purchasing a substitute product.
D) Increasing buyer power.

E) B) and D)
F) None of the above

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Question 23

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The value chain will group a company's activities into two categories: primary value activities and support value activities.

The Porter's Five-Forces Model analyzes the competitive forces within the environment in which a company operates to assess the potential for __________ in an industry.

Gina Brooks works for Aquarium Retail Services selling high-end saltwater fish and tank supplies.Aquarium Retail Services is the current market leader in Gina's city.Gina has recently been approached by Deep Blue Incorporated with an opportunity to run its corporate nationwide marketing and sales division.Gina decides to jump at the opportunity! Deep Blue is attempting to gain a competitive ________ by stealing its competitor's key employees.

What is one of the most common ways a company can decrease supplier power?

Your boss,Ty Jacob,has asked you to analyze the music industry using Porter's five-forces model.Which of the following represents supplier power in the music industry?

Porter identified three generic strategies that a business could follow after identifying a market it wanted to enter.Which of the following is not included as one of Porter's three generic strategies?

Which of the below represents procurement as part of the support value activities in a value chain analysis?

Business strategies that match _______ company competencies to opportunities result in a competitive advantage.

Which of the following is not considered a category within the primary value activities in a value chain analysis?

What is a feature of a product or service that customers have come to expect and that entering competitors must match if they want to survive?

The threat of substitute products or services is ___________ when there are many alternatives to a product or service and low when there are few alternatives from which to choose.

When evaluating the value chain,all of the following are included in the primary value activities except:

Product differentiation occurs when a company develops unique differences in its products or services with the intent to influence demand.

Mark Peterson identified the Porter's Five-Forces Model,which analyzes the competitive forces within a business environment.

__________ power measures the ability of buyers to affect the price they must pay for an item.

In the center of Porter's Five-Forces Model is competition.Which of the below represents the four outer boxes?

Which of the below is similar to focused strategy versus broad strategy?

The goal of value chain analysis is to identify processes in which the firm can add value for the customer and create a competitive advantage for itself,with a ________ or ________________.