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WorksheetsChapter 2: Identifying Competitive Advantages
Total questions: 20
Worksheet time: 18mins
A leadership plan that achieves a specific set of goals or objectives is called _____________ _____________.
Business plan
Business challenge
Business strategy
Business goals
Which of the following is NOT a business strategy?
Developing new product or services
Entering new markets
Increasing customer loyalty
Decreasing sales
Coca-cola decided to sell their brand of mineral water called Dasani in the Malaysian market. This is an example of what type of business strategy?
Developing new product or services
Entering new markets
Increasing customer loyalty
Attracting new customers
Increasing sales
A product or service that an organisation's customers place a greater value on than similar offering from a competitor is the definition of:
Competitive disadvantage
First mover advantage
Second mover advantage
Competitive strategy
Competitive advantage
When Apple introduces the new iPhone in 2007, they enjoyed this advantage:
competitive advantage
first-mover advantage
customer relationship advantage
business process advantage
Below is a list of competitive intelligence tools EXCEPT:
Porter's Five Forces Model
Porter's Three Generic Strategies
Porter's Value Chain Analysis
Porter's Market Analysis
List all 5 Porter's Five Forces Model
Buyer power means the ability of sellers to affect the buyer's behavior.
True
False
___________ costs means manipulating costs to make customers reluctant to switch to another product
Loyalty
Buyer
Seller
Switching
Rewards customers based on the amount of business they do with a particular organization is called (a) program.
Fill in the blanks from left to right
Company - Customers - Suppliers
Customers - Company - Suppliers
Suppliers - Customers - Company
Suppliers - Company - Customers
Threat of substitute products or services is low when there are many alternatives to a product or service and high when there are a few alternatives.
True
False
________ barrier is a feature of a product or a service that customers have come to expect and entering competitors must offer the same for survival.
Entrance
Exit
Entry
Physical
When competition is fierce in a market, rivalry among existing competitors is high.
True
False
When a company develops unique differences in its products or services with the intent to influence demand it is called ________________ ___________
service upgrading
product enhancement
service alternatives
product differentiation
Michael Porter's three generic strategies are: [Choose all that apply]
Cost leadership
Differentiation
Focused strategy
Standardization
A standardized set of activities that accomplish a specific task, such as preparing customer's order is called ______ _____.
(a)
_______ _______ analysis views a firm as a series of business processes that each add value to the product or service.
(a)
List 5 primary value activities in a typical company.
What are the four support value activities?
