
SMA Topic 3
Quiz
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others
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Practice Problem
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Hard
Kalie Hernandez
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Enhance your content in a minute
26 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Elements and conditions in a company’s environment that allow it to formulate and implement strategies that enable it to become more profitable.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
_____ arise when conditions in the external environment endanger the integrity and profitability of the company’s business.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A group of companies offering products or services that are close substitutes for each other—that is, products or services that satisfy the same basic customer needs.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A group of closely related industries.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Distinct groups of customers within a market that can be differentiated from each other on the basis of their individual attributes and specific demands.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Important barriers to entry include: I. Economies of scale II. Brand loyalty III. Absolute cost advantages IV. Customer switching costs V. Government regulation
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sources of scale economies include: (1) cost reductions gained through mass-producing a standardized output; (2) discounts on bulk purchases of raw material inputs and component parts; (3) the advantages gained by spreading fixed production costs over a large production volume; and (4) the cost savings associated with distributing marketing and advertising costs over a large volume of output.
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