Understanding Global Competition Dynamics

Understanding Global Competition Dynamics

12th Grade

10 Qs

quiz-placeholder

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Understanding Global Competition Dynamics

Understanding Global Competition Dynamics

Assessment

Quiz

Business

12th Grade

Practice Problem

Hard

Created by

Shilpa Verma

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the key components of global competition strategies?

Market entry strategies, product differentiation, cost leadership, strategic alliances, cultural adaptation.

Short-term pricing tactics

Local market dominance

Market saturation strategies

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Describe the four stages of the product life cycle.

Debut, Surge, Stability, Decrease

Introduction, Growth, Maturity, Decline

Launch, Expansion, Peak, Fall

Start, Rise, Plateau, Drop

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are some common market entry strategies used by companies?

Developing new products exclusively

Investing in stock markets

Common market entry strategies include exporting, joint ventures, franchising, wholly-owned subsidiaries, and licensing.

Acquisition of competitors

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does innovation contribute to competitive advantage?

Innovation is solely about technology advancements.

Innovation contributes to competitive advantage by enabling differentiation, enhancing efficiency, and fostering responsiveness to market changes.

Innovation has no impact on customer satisfaction.

Innovation leads to higher costs and reduced profits.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In what ways has globalization impacted local markets?

Globalization has eliminated competition in local markets.

Globalization has increased competition, diversified product availability, and influenced local consumer preferences.

Globalization has reduced the variety of local products.

Globalization has made local markets completely self-sufficient.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What consumer behavior trends are emerging in the global market?

Less emphasis on health and wellness

Increased focus on traditional retail stores

Sustainability, online shopping, personalization, health focus, and social media influence.

Decline in online shopping

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do companies adapt their strategies during the decline stage of the product life cycle?

Increasing production to meet demand

Investing heavily in advertising

Companies adapt by cutting costs, discontinuing products, focusing on niche markets, innovating, or divesting.

Expanding into new markets aggressively

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