MPU Quiz 4/4/2024

Why is it important to do the industry analysis?

• To generate the estimated income from the proposed business.

• To scan through the competitors in the same industry.

• To decide which product is suitable to be sold in the market.

• To ensure that the planned business is feasible in the selected industry.

Which of the following is the industry-level factors that can affect the business performance?

• Products or services

• Working culture

• Company reputation

• New rivals

The profit of the business can be improved if ...

• there are many substitute products in the market.

• the product or service price is high.

• there are high rate of new entrants into the industry.

• the company use unique business model.

We will be pressured by the suppliers if ...

• we have a large database of suppliers.

• the cost of switching suppliers is high.

• we have substitutes to the required resources.

• the suppliers have no interest to join the same industry.

What type of industry opens up the opportunities for pursuing a cost-reduction strategy?

• Emerging industries

• Fragmented industries

• Mature industries

• Declining industries

Future competitors provide products or services that are ...

• identical to ours.

• close substitutes to ours.

• not yet comparable to ours.

• totally dissimilar to ours.

Which of the following ways cannot be used to obtain information on competitors?

• Purchase competitors' products.

• Study their websites and social medias.

• Bribe their employees for information.

• Talk to the customers on their preferences.

What should we do if our business idea seems to have many disadvantages in the industry?

• Scrap the idea of doing business.

• Innovate our products or services.

• Just gamble and proceed.

• Increase budget on marketing.

Which of the following is TRUE about disruptive business models?

• It is rare.

• It is comparable to standard business models.

• They are usually impactful.

• They have low risk.

To reduce the risk of starting a new venture, we should ...

• narrow the market scope.

• have implicit target market.

• have clear idea of resource channels.

• have as many employees as possible.