Description : Which of the following is NOT an entry barrier to an industry? A. None of these B. Economies of scale C. Customer loyalty D. Bargaining power of suppliers
Last Answer : Bargaining power of suppliers
Description : According to the five factors model, an attractive industry would have all of the following characteristics EXCEPT: A. Low barriers to entry. B. Suppliers with low bargaining power. C. A moderate degree of rivalry among competitors. D. Few good product substitutes.
Last Answer : Low barriers to entry.
Last Answer : A moderate degree of rivalry among competitors.
Description : All of these, except__________, are part of Porter's competitive forces in industry analysis. a. potential entry of new competitors b. bargaining power of suppliers c. development of substitute products d. bargaining power of union
Last Answer : bargaining power of union
Description : New entrants to an industry are more likely when (i.e., entry barriers are low when…) A. It is difficult to gain access to distribution channels. B. Economies of scale in the industry are high. C. Product differentiation in the industry is low. D. Capital requirements in the industry are high.
Last Answer : Product differentiation in the industry is low.
Description : Which one of the following is NOT included in the Porter’s Five Forces model: A. Potential development of substitute products B. Bargaining power of suppliers C. Rivalry among stockholders D. Rivalry among competing firms
Last Answer : Rivalry among stockholders
Description : If an industry is characterized by economies of scale then - (1) barriers to entry are not very large (2) long run unit costs of production decreases as the quantity the firm produces increases (3) ... of the large scale operation (4) the costs of entry into the market are likely to be substantial
Last Answer : (2) long run unit costs of production decreases as the quantity the firm produces increases Explanation: In microeconomics, economies of scale are the cost advantages that an enterprise obtains due to expansion ... in unit cost as the size of a facility and the usage levels of other inputs increase.
Description : If an industry is characterised by economies of scale then (1) barriers to entry are not very large (2) long run unit costs of production decreases as the quantity the firm produces increases (3) ... of the large scale operation (4) the costs of entry into the market are likely to be substantial
Last Answer : long run unit costs of production decreases as the quantity the firm produces increases
Description : What are the four industry globalizing drivers? a) Market drivers, cost drivers, government drivers, and localization drivers b) Market drivers, cost drivers, government drivers, and ... drivers, bargaining drivers d) Market drivers, cost drivers, competitive drivers, regionalization drivers
Last Answer : Market drivers, cost drivers, government drivers, and competitive drivers
Description : Switching costs refer to the: A. Cost to a producer to exchange equipment in a facility when new technologies emerge. B. Cost of changing the firm’s strategic group. C. Costs suppliers incur when selling to a different customer. D. Costs customers incur when buying from a different supplier.
Last Answer : Costs customers incur when buying from a different supplier.
Description : Which of the following are drivers of Internationalization? A. Favourable Logistics B. Scale Economies C. All the above options D. None of these options
Last Answer : All the above options
Description : Using organization's existing under-utilized resources or capabilities (technologies, distribution channels, brands etc.) to new markets, products or services, is known as…. A. Economies of Scope B. The Experience Curve C. Economies of Capacity D. Economies of Scale
Last Answer : Economies of Scope
Description : A business is able to reduce total cost by spreading fixed costs across a wider range of products. This is known as…. A. Economies of Scope B. The Experience Curve C. Economies of Capacity D. Economies of Scale
Last Answer : Economies of Scale
Description : Global economies of scale arise when: a) a product or a process can be globally performed using cheap labour. b) a product or a process can be performed more cheaply thanks to alliances ... a process can be performed more cheaply thanks to globally performed cross-business cost-saving activities.
Last Answer : a product or a process can be performed more cheaply at greater volume than at lesser volume.
Description : Two reasons for mergers and acquisitions are a. to increase managerial staff and to minimize economies of scale. b. to reduce tax obligations and increase managerial staff. c. to create seasonal trends ... of a new sales force. d. to provide improved capacity utilization and to gain new technology
Last Answer : to provide improved capacity utilization and to gain new technology
Description : Which type of departmentalization achieves economies of scale by placing people with common skills and orientations into common units? (a) Geographic ; (b) Product ; (c) Process ; (d) Functional
Last Answer : (d) Functional
Description : A product or service that customers have come to expect from an industry, which must be offered by new entrants if they wish to compete and survive, is known as a(n)? a. Switching costs b. Loyalty programs c. Entry barriers d. Affiliate programs
Last Answer : c. Entry barriers
Description : Industry analysis should include information on – a) Market size of competitor’s product b) Growth rate of suppliers c) New product entry d) Economic conditions
Last Answer : d) Economic conditions
Description : Promotion efforts are subject to a. economies of scale. b. increasing returns. c. diminishing returns. d. promotion expenditure. e. customer awareness.
Last Answer : c. diminishing returns.
Description : Which of the following methods is/are used to solve intergroup conflicts indirectly (a) Avoidance ; (b) Encouragement ; (c) Bargaining ; (d) All of these
Last Answer : (a) Avoidance ;
Description : You have decided to try to find a win-win situation. You have decided to find a way to engage in: (a) integrative bargaining. ; (b) distributive bargaining. ; (c) mediation. (d) BATN(A)
Last Answer : (a) integrative bargaining. ;
Description : Which of the following is a characteristic of distributive bargaining? (a) I win, you win ; (b) long-term focus ; (c) convergent or congruent interests (d) opposed to each other
Last Answer : (d) opposed to each other
Description : Being conscientious, admitting mistakes, and knowing one's strengths and limitations are the skills associated with _______. (a) Competence ; (b) consistency ; (c) loyalty ; (d) integrity
Last Answer : (a) Competence ;
Description : Transformational leadership is about change, _________, and entrepreneurship. (a) Motivation ; (b) innovation ; (c) loyalty ; (d) enthusiasm
Last Answer : (b) innovation ;
Description : The International Monetary Fund is important because: A. It has sufficient financial resources to deal with a major global financial crisis. B. It has sufficient financial resources to help individual ... C. Emerging economies can exercise significant influence on it. D. It fixes exchange rates.
Last Answer : It has sufficient financial resources to help individual countries facing balance of payments problems
Description : Acquiring one or more suppliers for growth is…. A. Horizontal integration B. Forward integration C. Backward integration D. None of these options
Last Answer : Backward integration
Description : Which group would be classified as a stakeholder? A. Communities B. Banks C. Suppliers D. All of these
Last Answer : All of these
Description : Which of the following is not a part the Macro Environment? a. Laws & Policies b. Demographics c. Suppliers d. Social Values
Last Answer : Suppliers
Description : In ‘make or buy’ decision, it is profitable to buy from outside only when the supplier’s price is below the firm’s own ______________. (a) Fixed Cost (b) Variable Cost (c) Total Cost (d) Prime Cost
Last Answer : (b) Variable Cost
Description : A continually evolving network of independent companies, suppliers, customers, even competitors, linked together to share skills, costs, and access to one another s markets is called a/an ... Virtual organization ; (b) Boundaryless organization ; (c) Modular organization (d) Integrated organization
Last Answer : (a) Virtual organization ;
Description : Relationships seem to be important to marketing given the current emphasis on terms like relationship marketing, loyalty management, and customer relationship management. Critically discuss?
Last Answer : Classificatory systems are generally and erroneously understood to be those that "class together" with a single term relatives who actually do not have the same type of relationship to ego. (What defines "same type of relationship" under such definitions seems to be genealogical relationship
Description : __________ techniques can be used to learn more about current and potential customers. a. Strategic partnerships b. Customer loyalty c. Data mining d. Efficient customer response (ECR)
Last Answer : b. Customer loyalty
Description : Which of the following is most likely to stimulate customer loyalty ? 1. corruption 2. sweepstakes 3. frequent-user incentives 4. samples 5. premiums
Last Answer : frequent-user incentives
Description : One distinguishing factor between a brand name and a brand mark is that a brand name 1. creates customer loyalty 2. consists of words 3. identifies only one item in the product mix 4. implies an organization's name 5. none of these
Last Answer : consists of words
Description : The ________ is a tool for identifying ways to create more customer value. A. Value chain B. Customer survey C. Brand loyalty index D. Promotion channel E. Supplier database
Last Answer : A. Value chain
Description : One advantage of non-price competition is that: A)a firm can react quickly to competitive efforts. B)market share becomes less important. C)a firm can build customer loyalty. D)pricing is no longer a success factor.
Last Answer : C)a firm can build customer loyalty.
Description : Which of the following is most likely to stimulate customer loyalty? A)Coupons B)Sweepstakes C)Frequent -user incentives D)Samples E)Premiums
Last Answer : C)Frequent -user incentives
Description : One distinguishing factor between a brand name and a brand mark is that a brand name A)creates customer loyalty. B)consists of words. C)identifies only one item in the product mix. D)implies an organization's name.
Last Answer : B)consists of words.
Description : Which of the following would be least likely to pose a barrier to cross-cultural communications? (a) Tone difference ; (b) Word connotations ; (c) Political correctness ; (d) Differences among perceptions
Last Answer : (c) Political correctness ;
Description : Monopsony is a market situation in which there exists 1. many customers one supplier 2. many customers many suppliers 3. few customers few suppliers 4. one customer many suppliers 5. None of these
Last Answer : one customer many suppliers
Description : Network of delivering products to customer which is composed of distributors, suppliers and manufacturing company is classified as A. supply chain management B. marketing channels C. delivery channels D. value delivery network
Last Answer : D. value delivery network
Description : Location is extremely important to a retailer because: A)suppliers charge more to service stores in certain trading areas. B)a desirable location appeals to consumers' emotions and encourages them ... which the store must draw its customers. E)convenient location is an essential customer service.
Last Answer : D)location determines the trading area from which the store must draw its customers.
Description : Which of the following is not an inherent risk that is common to all clients in certain industries? a. Accounts receivable collection in the consumer loan industry. b. Potential inventory ... Brand loyalty in the cosmetics industry. d. Reserve for loss in the casualty insurance industry
Last Answer : Brand loyalty in the cosmetics industry.