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WorksheetsStrategic Marketing: Topic 3
Total questions: 10
Worksheet time: 2mins
Which factors would indicate the rivalry amongst competitors is HIGH?
Market growth is LOW
Exit barriers are LOW
Number of competitors is LOW
Entry barriers are HIGH
Which is NOT one the five forces Michael Porter refers to?
Threat of New Innovations
Buyer Power
Rivalry amongst Competitors
Supplier Power
Which is NOT an assumption of the Product Lifecycle?
Product or category decline is inevitable
Conditions and threats vary along the way
Products have a limited lifespan
The cycle follows a predictable pattern
Strategic Groups are:
All are correct
Where firms/brands within an industry follow similar strategies
Aimed at similar customers or customer groups
Have barriers of mobility that prevent firms moving to other groups
The purpose of Porter's Value Chain analysis is:
To understand the unique combination of the things that the company and only the company can do
Understanding where unique advantages (in terms of superior consumer value or cost advantages) are realized in the firm
Ensure the supply chain is efficient
Allocate profit into activity types
There are a number of market forecasting techniques that can be used to assist in making this judgement; these fall into three main categories:
Judgmental techniques
Behavioural outcomes
Experimental design
Observational
The basic formular to calculate market size is:
S = N x L x R
S = F x L x R
N = S x L x R
S = N x L x P
When an industry reaches maturity in its life cycle….
Competition stabilizes
Rapid sales growth
Marketing support cut
Little competition
The consumer analysis framework includes:
Who, why, how, why, when and where
Who, why, how, why, when
Where, who, why, how
Where, why, how, who, way
Barriers of mobility are…
Factors that would prevent firms/brands moving from one group to another
Firms/brands within an industry following similar strategies, aimed at similar customers or customer groups.
Factors that make it impossible for a firm to change
Firms/brands that prevent the movement of competitor firms/brands
