MKT 475 Week 3 Quiz – Strayer
Click on the Link Below to
Purchase A+ Graded Course Material
Quiz
2 Chapter 2 and 3
Chapter
02
Markets and Competitive Space
True/False
Questions
1. When
modularization occurs, products become commodities.
2.
The influence of competing brands becomes weaker with closer substitutability
and more direct competition.
3.
The product-variant product-market structure includes a broad group of products
that satisfy a general, yet similar, need.
40
4.
Customer function considers the role or purpose of the good or service.
5.
It is important to focus on the distributor of a product when defining the
market, since the distributor drives demand for the product.
6.
The value chain analysis considers the vertical network of firms involved in
production.
7.
A new competitor entering a market is likely to come from companies competing
in other geographical regions with similar products.
8.
Sales forecasts, typically, fall short of market potential.
9.
In the initial stage of competition, the competitors concentrate on market
share for end products and profits.
10.
In the final phase of competition, companies involve in partnering with the
objective of controlling industry standards.
Multiple
Choice Questions
11.
_____ refers to firms using simpler and less costly ways to match the value
requirements offered by the products of incumbent firms serving the
market.
A. Modularization
B. Commoditization of product
designs
C. Disruptive innovation
D. Creating new market space
12.
_____ changes products into commodities, making it difficult for companies to
earn anything more than subsistence returns from those
products.
A. Disruptive
innovation
B. Modularization
C. Cannibalization
D. Segmentation
13. The
purpose of _____ is to target new opportunities where buyers' value
requirements are not being satisfied by existing products.
A. disruptive
innovation
B. commoditization of
products
C. benchmarking
D. creating new market space
14. The
_____ product-market includes a broad group of products that satisfy a larger
common need.
A. generic
B. product-type
C. product-variant
D. larger-type
15.
Which of the following is the first step in defining and analyzing
product-markets?
A.
Forecasting market size
B.
Determining the boundaries of the market
C.
Analyzing competition
D.
Predicting rate of change of the market
16. Which
of the following is the second step in analyzing
product-markets?
A. Analyze competition
B. Form the
product-market
C. Forecast market size and rate of change
D. Analyze
end users
17.
Which of the following is the final step in analyzing the competition?
A.
Anticipating actions by competitors
B.
Evaluating key competitors
C.
Identifying and evaluating potential competitors
D. Identifying key competitors
18.
Which of the following is the most direct type of competition?
A.
Budget competition
B.
Generic competition
C.
Product-category competition
D.
Product-variant competition
19. _____
analysis is horizontal and only covers similar types of firms and operating
practices of the firms.
A. Value
chain
B. Industry
C. Market segmentation
D. Customer profile
Comments
Post a Comment