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91.According to Michael Porter, five industry forces determine an industry’s overall attractiveness and potential for long-term profitability.  Which of the following is one of those forces Porter identified?

a.existence of complementary products

b.organizational structure

c.existing benchmarks

d.span of management

e.bargaining power of suppliers

92.Which of the following is NOT one of the five industry forces that determine an industry’s overall attractiveness and potential for long-term profitability?

a.character of  rivalry

b.existing complementary products

c.bargaining power of suppliers

d.threat of substitute products

e.bargaining power of buyers

93.__________ is the measure of the intensity of competitive behavior between companies in an industry.

a.Character of culture

b.Competitive barrier

c.Character of the rivalry

d.Benchmarked rivalries

e.Product substitutability

94.At the beginning of this decade, the first reality television programs were introduced. They were soon followed by a flood of similar type television shows including a couple of spoofs.  According to Michael Porter, _____ apparently made the production of reality shows an attractive industry.

a.character of the rivalry

b.existing complementary products

c.bargaining power of suppliers

d.threat of new entrants

e.bargaining power of buyers

95.Players in the cosmetics industry include Procter & Gamble, which owns Cover Girl and Max Factor brands, L’Oreal, which owns L’Oreal and Maybelline brands, Revlon, which owns Revlon and Almay brands, and Estée Lauder.  According to Porter, _____ has the most influence on these company’s profits.

a.character of culture

b.competitive barriers

c.character of the industry

d.benchmarked rivalries

e.threat of substitute products

96.The original CEO of Revlon once called Estée Lauder, one of his competitors, “his arch and implacable enemy.”  This description leads you to believe that Michael Porter would want to examine the _____ as it influences the industry.

a.character of culture

b.competitive barriers

c.character of the rivalry

d.benchmarked rivalries

e.product substitutability

97.Clorox Corporation controls 60 percent of the bleach market.  Imagine you are an entrepreneur who is considering developing and marketing a bleach innovation.  Which of Michael Porter’s industry forces should you be most concerned about?

a.bargaining power of buyers

b.threat of substitute products or services

c.threat of new entrants

d.bargaining power of suppliers

e.character of the rivalry

98.The positioning strategies identified by Michael Porter are:

a.entrepreneurial, growth, and stability

b.diversification, acquisition, and divestment

c.defender  strategy, diversification, and cost leadership

d.focus, cost leadership, and differentiation

e.divestment, cost leadership, and diversification

99.Cost leadership, differentiation, and focus are the three types of __________ strategies discussed in the text.

a.grand

b.niche

c.positioning

d.restructuring

e.portfolio

100.Many experts claim that Kmart failed because it did not have the lowest prices, it was not perceived as the best in serving a market segment, and it did not provide any specialized services.  According to Michael Porter, Kmart should have:

a.adopted an entrepreneurial orientation

b.diversified

c.used a positioning strategy

d.implemented a retrenchment strategy

e.instituted a value-based culture

 

 

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