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


A) Established record labels like EMI, Sony, and Universal.
B) Independent record labels.
C) Game systems like Wii and social networks like Facebook.
D) Taylor Swift, Beyonce, The Beatles, and The Rolling Stones.

E) C) and D)
F) All of the above

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According to Porter's value chain analysis,which of the below provides customer support after the sale of goods and services?


A) Inbound logistics.
B) Outbound logistics.
C) Operations.
D) Service.

E) B) and C)
F) A) and C)

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Your boss,Kerry Miller,has asked you to analyze the soft drink industry using Porter's five-forces model.Which of the following represents a threat of a new entrant in the soft drink industry?


A) Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B) Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C) Zevia Natural Diet Soda begins selling directly over the Internet.
D) Vitamin water, fruit juice, and coffee.

E) A) and D)
F) A) and C)

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Sandy Fiero works as the Chief Knowledge Officer for Bend Lumbar Company.She has been given the responsibility to create a product or service that will bring an added value to its customers to increase the company's revenue.Sandy determines that the best value she can add is by creating a service that offers free next-day shipping on any order over $50.Where in the value chain is Sandy adding value?


A) The primary value activity outbound logistics.
B) The primary value activity inbound logistics.
C) The primary value activity marketing and sales.
D) The primary value activity operations.

E) A) and B)
F) B) and D)

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Explain why competitive advantages are temporary.

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A competitive advantage is a feature of ...

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Competitive intelligence is the process of gathering information about the competitive environment,including _________.


A) Competitors' employees.
B) Competitors' differentiated processes.
C) Competitors' plans.
D) All of these.

E) All of the above
F) A) and B)

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Michael Porter defined the Five-Forces Model and the potential pressures that can hurt sales.Which of the following is not one of the potential pressures that can hurt sales?


A) Suppliers can drive down profits by charging more for supplies.
B) New market entrants can steal potential investment capital.
C) Substitute products can steal customers.
D) All of these.

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

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Demonstrate how a company can add value by using Porter's value chain analysis.

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To identify competitive advantages,Micha...

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MIS can add value to both primary activities and support activities in the value chain.Which of the following is not an example of a company adding value by using MIS in a primary activity?


A) Scottrade Corp. creating an online system for employees to track paychecks, benefits, the wellness-rewards program, and other employee benefit items.
B) A system for the sales and marketing departments to track specific sales targets and follow-up processes.
C) An easy electronic survey to be sent to the customer right after a service is completed.
D) Royal Crest Dairy placing their order and delivery system on an easily accessible Web portal so customers can track delivery status.

E) A) and C)
F) A) and D)

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Focused strategies concentrate on either cost leadership or ___________.

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Differentiation
Explanation: F...

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All of the following are common tools used in industry to analyze and develop competitive advantages,except:


A) Five-Forces Model
B) Three Generic Strategies
C) Competitive analysis model
D) Value chain analysis

E) A) and D)
F) A) and C)

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___________ value activities are found along the top of the value chain and include business processes,such as firm infrastructure,human resource management,technology development,and procurement,that support the primary value activities.

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Some industries' competition is much more intense than others.Retail grocery stores,such as Kroger,Safeway,and Albertson's in the United States,experience fierce competition and offer similar marketing campaigns to compete.What is this an example of in terms of Porter's Five Forces?


A) Rivalry among new entrants.
B) Rivalry among existing competitors.
C) Threat of substitute products or services.
D) Buyer power.

E) A) and B)
F) A) and D)

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Tiffany & Company competes in the marketplace by offering high-cost custom jewelry.Tiffany & Company is following a broad market and cost leadership strategy.

A) True
B) False

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When buyer power is low,supplier power is typically ______.


A) Identical.
B) High.
C) Low.
D) Unstable.

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

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The Victory Wireless store in Denver is currently offering a fabulous marketing strategy for potential new iPhone customers.Victory Wireless offers customers who purchase an iPhone with a two-year subscription a free Otter phone case,car charger,ear phones,and speakers.In terms of Porter's Five Forces,what is Victory Wireless attempting to achieve with this marketing strategy?


A) Increase buyer power.
B) Increase substitute products.
C) Decrease supplier power.
D) Decrease buyer power.

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

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What is a competitive advantage?


A) A product that an organization's customers place a lesser value on than similar offerings from a competitor.
B) A feature of a product or service on which customers place a lesser value than they do on similar offerings from a supplier.
C) A service that an organization's customers place a lesser value on than similar offerings from a supplier.
D) A feature of a product or service on which customers place a greater value than they do on similar offerings from competitors.

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

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Which of the following offers an example where Porter's five forces are mostly strong and competition is high?


A) A dog-walking business.
B) A ski resort.
C) A professional hockey team.
D) All of these.

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

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Imagine you are creating a new product to sell in an up-and-coming market.Which of the below statements indicates that it would be difficult for you to enter this new market?


A) The threat-of-new-entrants force is high in the up-and-coming market.
B) The threat-of-new-entrants force is low in the up-and-coming market.
C) The threat-of-new-entrants force is high during the summer months in the up-and-coming market.
D) All of these, depending on the time of year.

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

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A standardized set of activities that accomplish a specific task is called a supply chain component.

A) True
B) False

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