MKT4309 Final Exam Questions with 100% Correct Answers | Verified | Updated 2024

MKT4309 Final Exam Questions with 100% Correct Answers | Verified | Updated 2024 10%-20% - answerstatistical analysis suggests that ____ of the variation in businesses' profitability is driven by their respective industries. Threat of Potential Entrants - answera software developer has a new idea for a mobile application that will enable blind individuals to identify the denomination of paper currency. Which of the following may prevent the developer from charging a premium price? complement - answerCompany A has developed a major component for Company B's product like that will increase Company B's market value. Which of the following concepts best describes this situation? target market - answerThe ABC company sells plastic model cars in retail stores primarily to hobbyists. It has decided to modify the cars' exterior packaging, giving the car a more sophisticated look that will appeal to more discerning buyers. The ABC company has changed its: value proposition based on differentiation and a niche clientele that is willing to pay for added value - answerXYZ company operates on a remote interstate highway. It provides premium services to truckers en route to remote locations. It has numerous competitors that offer lower price, but it meets the demands of discerning clients with its high-quality services. Therefor, XYZ company can be characterized as a firm with a: reduced profit margins due to the bargaining power of their supplier - answerBecause it holds a patent for technology that increases automobile's reliability, company A has 80% of the market for a specialized component. Auto manufacturers pay a high premium for this component. As a result, the auto manufacturers realize: Increase strategic complexity and create a credible threat of retaliation - answerWhat are the best ways that a firm can reduce the threat of imitation? Resource-based view - answerAn organization intends to capture market share in its industry because it has access to a scarce key ingredient in its patented formula of antiviral products. What is the approach the organization should take to capture market share? False - answerTrue or false: Cutting costs and boosting productivity are strategies for achieving competitive advantage. Strategy is the integrated set of choices that positions the business in its industry so that it generates superior financial returns over the long run - answerWhich of the following is Professor Rivkin's definition of strategy? Where should the organization compete - answerWhich one of the following questions is a fundamental criterion for a strategy? understanding the threat of substitution - answerBecause achieving dynamic consistency requires anticipation and vigilance, firms should mitigate external threats by vertical integration - answerA company that experienced problems with its wholesalers decided to replace them by building warehousing facilities from which to distribute its products and to hire its own sales force. This strategy is called true - answerTrue or false: In a business model, the fit between the business model and choice of activities should enable optimizatio