Question 1

Which of the following represents a typical supply chain?

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Question 2

What are costs that make customers reluctant to switch to another product or service?

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Question 3

What includes all parties involved, directly or indirectly, in obtaining raw materials or a product?

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Question 4

Which one of Porter's five forces is high when it is easy for new competitors to enter a market and low when there are significant entry barriers to joining a market?

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Question 5

Your boss, Ty Jacob, has asked you to analyze the music industry using Porter's five forces model.Which of the following represents supplier power in the music industry?

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Question 6

Amazon.com uses a customer profiling system whenever a customer visits its website.Using this system, Amazon can offer products tailored to that particular customer's profile and buying pattern.What is Amazon using to achieve this competitive advantage?

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Question 7

Some industries' competition is much more intense than others.Retail grocery stores such as Kroger, Safeway, and Albertson's in the United States experience fierce competition and offer similar marketing campaigns to compete.What is this an example of in terms of Porter's Five Forces?

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Question 8

Imagine you are creating a new product to sell in an up-and-coming market.Which of the below statements indicates that it would be easy for you as the new entrants to compete in this market?

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Question 9

Shawn McGill is on the executive board for ABC pharmaceuticals.The company produces the number one selling cancer fighting drug on the market.Due to its incredible success ABC pharmaceuticals has decided to increase the cost of the drug from $8 a pill to $15 a pill.Which force is ABC pharmaceutical using to increase its drug price?

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Question 10

If a supplier has high power, what can it do to influence its industry?

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Question 11

In the center of Porter's Five Forces model is competition.Which of the following represents the four outer boxes?

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Question 12

What is one of the most common ways a company can decrease supplier power?

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Question 13

John Cleaver is the CEO of Tech World, which is a retail store that sells computers, monitors, cameras, televisions, and many other electronic products.John and his executive team are meeting to brainstorm new ideas on how to grow the business.One idea is to mimic a competitor's product that is attempting to sell a new product in a different industry.After performing a Porter's Five Forces analysis, John determines that all of the forces are high in this new industry.What should John do?

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Question 14

How can a company reduce the threat of substitute products or services?

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Question 15

What is a feature of a product or service that customers have come to expect and entering competitors must offer the same if they want to survive?

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Question 16

Callie Crystal owns and operates one of the most successful local coffee shops in Denver, called The Edgewater Café.Each time customers purchases their 100^th cup of coffee at The Edgewater Café, they receive a free pound of coffee of their choice.What is Callie attempting to create with her unique "Free Pound of Coffee" marketing program?

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Question 17

Imagine you are creating a new product to sell in an up-and-coming market.Which of the following statements indicates that it would be difficult for you to enter this new market?

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