Ch 11 dealing with competition questions.hao

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  • 1. TOP 10 Learning Concepts for
    Chapter 11:
    Dealing with Competition
    Lady CharmayneHao
    April 2011
  • 2. 1. Which of the following is true?
    In threat of segment rivalry, a segment is unattractive if it does not contain numerous, strong, or aggressive competitors.
    In threat of new entrants, a segment is attractive if entry barriers are low and exit are high.
    In threat of segment rivalry, a segment is unattractive if there are actual potential substitutes for the product.
    In threat of new entrants, a segment is attractive if entry barriers are high and exit are low.
    In threat of segment rivalry, a segment is attractive if it places a limit on prices and profit.
    2
  • 3. What determines market segment?
    3
    Michael Porter’s Five Forces
  • 4. “Threat of new entrants” refers to the threat existing competitors face upon new competitors
    4
    Barriers to entry:
    Economies of scale
    Product Differentiation
    Capital Requirements
    Switching Cost
    Distribution Channel Access
    Government Policies
    Attractive if entry barriers are high and exit are low!
  • 5. 1. Which of the following is true?
    In threat of segment rivalry, a segment is unattractive if it does not contain numerous, strong, or aggressive competitors.
    In threat of new entrants, a segment is attractive if entry barriers are low and exit are high.
    In threat of segment rivalry, a segment is unattractive if there are actual potential substitutes for the product.
    In threat of new entrants, a segment is attractive if entry barriers are high and exit are low.
    In threat of segment rivalry, a segment is attractive if it places a limit on prices and profit.
    5
  • 6. 2. The percentage of customers whose company’s product they prefer to buy pertains to _____.
    Share of mind
    Share of heart
    Share of market
    Both a and c
    Both b and c
    6
  • 7. What to consider on competitor analysis?
    7
    Share of market
    Variables
    Share of mind
    Share of heart
  • 8. “Share of heart” refers to the percentage of customers whose company’s product they want to buy
    8
    “Name the company from which you would prefer to buy!”
  • 9. 2. The percentage of customers whose company’s product they prefer to buy pertains to _____.
    Share of mind
    Share of heart
    Share of market
    Both a and c
    Both b and c
    9
  • 10. 3. Forever 21 is an example of
    Market Leader
    Market Follower
    Market Challenger
    Market Niche
    Market Rival
    10
  • 11. What are the other competitive strategies?
    11
    Market
    Challenger
    Market
    Followers
    Market
    Nichers
    Market
    Leader
  • 12. “Market follower” is a willing to maintain its market share and not rock the boat.
    12
    Market
    Challenger
    “Product imitation”
    Market
    Followers
    Market
    Nichers
    Market
    Leader
  • 13. 3. Forever 21 is an example of
    Market Leader
    Market Follower
    Market Challenger
    Market Niche
    Market Rival
    13
  • 14. 4. Switching cost is an example barrier to entry of
    Supplier Power
    Threat of new entrants
    Buyer Power
    All of the above
    None of the above
    14
  • 15. What determines market segment?
    15
    Michael Porter’s Five Forces
  • 16. “Supplier Power” refers to market of inputs
    16
    Factors affecting supply power:
    Supplier Concentration
    Availability of Substitute Inputs
    Product Differentiation
    Buyer Willingness
    Switching Cost
    Substitutes place a limit on prices and profit!
  • 17. “Threat of new entrants” refers to the threat existing competitors face upon new competitors
    17
    Barriers to entry:
    Economies of scale
    Product Differentiation
    Capital Requirements
    Switching Cost
    Distribution Channel Access
    Government Policies
    Attractive if entry barriers are high and exit are low!
  • 18. “Buyer Power” refers to customer’s price sensitivity and negotiating power
    18
    Factors affecting buyer power:
    Number of customer
    Size
    Differences
    Price Sensitivity
    Switching Cost
    Brand Identity
    Substitutes place a limit on prices and profit!
  • 19. 4. Switching cost is an example barrier to entry of
    Supplier Power
    Threat of new entrants
    Buyer Power
    All of the above
    None of the above
    19
  • 20. 5. Define _____ and opponents is one of the strategies of a market niche.
    Strategic Innovation
    Strategic Implementation
    Strategic Objective
    None of the above
    All of the above
    20
  • 21. How market challengers strategies
    21
    Define Strategic Objective and opponents
    Choose general attack strategy
    Choose specific attack strategy
    Market Leader
  • 22. Most aim to increase market share!
    22
    Define Strategic Objective and opponents
    Decide whom to attack!
    Choose general attack strategy
    • Market Leader
    • 23. Firm’s own size
    underfinanced
    and not doing
    the job
    • small and local
    firms
    Choose specific attack strategy
  • 24. 5. Define _____ and opponents is one of the strategies of a market Challenger.
    Strategic Innovation
    Strategic Implementation
    Strategic Objective
    None of the above
    All of the above
    23
  • 25. 6. Leapfrogging to new technologies is an example of
    Frontal Attack
    Flank Attack
    Encirclement Attack
    Bypass Attack
    Guerilla Attack
    24
  • 26. What attack options are available?
    25
    A
    T
    T
    A
    C
    K
    Frontal
    Bypass
    Flank
    Guerrilla
    Encirclement
  • 27. Bypass attack offers 3 line approach
    26
    Diversify into
    unrelated products
    New geographical markets
    Leapfrogging to new technologies
    A
    T
    T
    A
    C
    K
    Frontal
    Bypass
    Flank
    Guerrilla
    Encirclement
    Bypass and attack easier markets!
  • 28. 6. Leapfrogging to new technologies is an example of
    Frontal Attack
    Flank Attack
    Encirclement Attack
    Bypass Attack
    Guerilla Attack
    27
  • 29. 7. The following are specific attack strategies for competition except
    Product Launch
    Lower priced goods
    Product Discounts
    Product Innovation
    Value priced goods
    28
  • 30. Determine specific attack strategies for effective competition.
    29
    Improved Service
    Product Discounts
    Product Innovation
    Prestige Goods
    Distribution Innovation
    Lower Priced Goods
    Manufacturing –Cost
    Reduction
    Product Proliferation
    Intensive Advertising
    Promotion
    Value-priced Goods
  • 31. Determine specific attack strategies for effective competition.
    30
    Improved Service
    Product Discounts
    Product Innovation
    Prestige Goods
    Distribution Innovation
    Lower Priced Goods
    Manufacturing –Cost
    Reduction
    Product Proliferation
    Intensive Advertising
    Promotion
    Value-priced Goods
  • 32. 7. The following are specific attack strategies for competition except
    Product Launch
    Lower priced goods
    Product Discounts
    Product Innovation
    Value priced goods
    31
  • 33. 8. Which of the following is true?
    An imitator takes the leader’s product and adapts or improves them.
    A cloner emulates the leader’s products, name, and packaging but is costs less than the leader’s product.
    An adapter duplicates the leader’s product and packages and sells it to the black market.
    A cloner copies some aspects of the leader’s products but maintains a few differentiation.
    None of the above
    32
  • 34. How do market followers strategize?
    33
    Counterfeiter
    Cloner
    Imitator
    Adapter
  • 35. “COUNTERFEITER” duplicates a leader’s product
    34
    Where?
    Why?
    How?
    Packages and sells product on the black market through disreputable dealers for financial gain!
  • 36. “CLONER” emulates the leader’s products with slight variations
    35
    What?
    How?
    Product, name, and packaging are almost identical but cost less than the leader’s product!
  • 37. “IMITATOR” copies few things but maintains differentiation
    36
    What?
    How?
    Packaging, advertising, pricing, or location differs from the leader!
  • 38. “ADAPTER” adapts or improves leader’s product
    37
    What?
    How?
    Why?
    Products might be sold to different markets but often grows into a future challenger!
  • 39. 8. Which of the following is true?
    An imitator takes the leader’s product and adapts or improves them.
    A cloner emulates the leader’s products, name, and packaging but is costs less than the leader’s product.
    An adapter duplicates the leader’s product and packages and sells it to the black market.
    A cloner copies some aspects of the leader’s products but maintains a few differentiation.
    None of the above
    38
  • 40. 9. The following is not the meaning of vertical integration except for
    Number of sellers
    Degree of differentiation
    Circumstances to determine when to enter and exit
    Level of growth to global scale
    Degree that companies integrate backward or forward
    39
  • 41. How to identify primary competitors?
    40
    Number of
    Sellers and
    Differentiation
    Degree
    Entry,
    Mobility, and
    Exit Barriers
    Industry
    Degree
    of
    Globalization
    Cost
    Structure
    Degree of
    Vertical
    Integration
  • 42. How to identify primary competitors?
    41
    Number of
    Sellers and
    Differentiation
    Degree
    Entry,
    Mobility, and
    Exit Barriers
    How many
    and
    how different?
    Circumstances
    that determine when
    To enter and exit
    Industry
    Degree
    of
    Globalization
    Cost
    Structure
    Level
    Of
    growth to a global
    scale
    Expenses that a firm
    must account when
    manufacturing
    a product or service
    Degree of
    Vertical
    Integration
    Level
    Of
    management control
    style
  • 43. 9. The following is not the meaning of vertical integration except for
    Number of sellers
    Degree of differentiation
    Circumstances to determine when to enter and exit
    Level of growth to global scale
    Degree that companies integrate backward or forward
    42
  • 44. 10. A value added reseller customizes the computer hardware and software for specific customer segments and earns a price premium is an example of
    Vertical-level specialist
    End-user specialist
    Customer-size specialist
    Product-feature specialist
    Specific-customer specialist
    43
  • 45. Possible Niche roles for successful nichemanship
    44
    • End-user specialist
    • 46. Vertical-level specialist
    • 47. Customer-size specialist
    • 48. Specific-customer specialist
    • 49. Geographic specialist
    • 50. Product specialist
    • 51. Product-feature specialist
    • 52. Job-shop specialist
    • 53. Quality-price specialist
    • 54. Service specialist
    • 55. Channel specialist
  • Possible Niche roles for successful nichemanship
    45
    Customer-size specialist
    • End-user specialist
    Concentrate on selling to either small, medium-sized, or large customers
    Specializes in serving one type of end-user
    Geographic specialist
    Vertical-level specialist
    Sells only on certain locality, region, or area of the world
    Specializes at some vertical level of production-distribution value chain
  • 56. Possible Niche roles for successful nichemanship
    46
    Product-line specialist
    Specific-customer specialist
    Carries or produces only one product line or product
    Limits its selling to one or few customers
    Job-shop specialist
    Product-feature
    Specializes in producing a certain type of product or product feature
    Customizes its products for individual customers
  • 57. Possible Niche roles for successful nichemanship
    47
    Quality-price specialist
    Channel specialist
    Operates at the low- or high-quality, high-price end of the handheld calculator market
    Specializes in serving only one channel of distribution
    Service specialist
    Offers one or more services not available from other firms
  • 58. 10. A value added reseller customizes the computer hardware and software for specific customer segments and earns a price premium is an example of
    Vertical-level specialist
    End-user specialist
    Customer-size specialist
    Product-feature specialist
    Specific-customer specialist
    48
  • 59. TOP 10 Learning Concepts for
    Chapter 11:
    Dealing with Competition
    Lady CharmayneHao
    April 2011