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Exam 6: Understanding Competitors: Analysis to Action

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Question 1

Multiple Choice

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In an oligopoly there are typically ___________ competitors.

A) 0-1
B) 1-2
C) 2-3
D) 3-4
E) 4-5

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

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Question 2

Multiple Choice

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_______________ is a third way of defining competitors.Customers often find new uses that alter the original intent or design of a product.

A) Direct competitors
B) Indirect competitors
C) Product use
D) Substitution
E) None of the above

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

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Question 3

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An underutilized source of competitor information is the company's own customers.

Power Circuit, a utility company that operates in Northeast U.S.is required to get approval from state regulatory agencies before increasing the price of its service because it is a(n) ______________ company.

In pure competition environments, profit margins are generally lower, and sellers focus on creating cost efficiencies to increase profitability.

Steve Jobs is known for looking at the products that his company is an expert in, recognizing its strengths and using that information to expand into new product lines.This is an example of ____________.

Margarita is the Marketing Manager for What's Up Doc? a doctor referral website.Recently insurance companies have started to offer their own referral services on their websites.Margarita just got back from a Health Tradeshow where she met another manager that works for a hospital referral website.What could Margarita do to defend her existing markets?

A company's culture is a critical element in competitor analysis.

Knowing the company's corporate culture is a poor indicator of potential future strategy.

Most companies view competitors as those existing at the same level in the supply chain.Why is this not a safe assumption?

The primary sources of competitive information are __________________.

Competitor analysis can only identify old opportunities and/or threats, and shows that it is not always possible to learn from competitors.

Deon owns a store in his hometown that sells family sized meals of turkeys, hams, casseroles and side dishes.He would be viewed as a _________________ by the well-known national chain that sells very similar products.

When you know the goals and objectives of a competitor, you have a pretty good idea of the company's strategy.

A(n) _____________ exists when a market is controlled by a single company offering one set of products.

A new restaurant, Doggy Bag, specializes in a unique dining experience for both humans and their furry companions.While it operates in the restaurant industry, its inventive idea has yet to be copied by anyone else.What kind of an industry structure does this demonstrate?

Gadgets & Gizmos is a Los Angeles technology company that creates specialized components for its customers needs.Recently Phil, the owner of Gadgets & Gizmos, began to consider expanding into new markets and more specifically globally.What kinds of unique problems are presented by a move into a global market?

All of the following are factors that affect an industry EXCEPT _____________.

It is important to determine whom the __________________ views as your competitor.

Robinson Steelco is a steel company offering standardized products to its customers.Robinson has found it difficult to break out and charge a premium price for its products.This is an example of a(n) ______________.