BTMA Midterm Prep Questions Correctly Answered.

BTMA Midterm Prep Questions Correctly Answered. Business Strategy - correct answer 1. Marketing Strategy 2. IT Strategy 3. Operations Strategy 4. Product Strategy Alignment - correct answer Michael Porter - #1 Purpose is ______ Simplified Value Chain - correct answer 1. Defining Value Chain 2. Capturing Cost Data 3. Controlling Cost 4. Cutting Buyers Cost 5. Determining Purchasing Criteria 6. Reconfiguring Value Chain Industry Analysis - correct answer 1. Competitive Forces 2. Strategic Planning 3. Types of Strategies 4. Strategic Alignment Primary Activities - correct answer 1. Inbound Logistics 2. Operations 3. Outbound logistics 4. Marketing and sales 5. Services Support Activities - correct answer 1. Infrastructure 2. Human resource management 3. Technology Development 4. Procurement Porters Five Forces - correct answer 1. Threat of New Entrants (how easily can competitors enter the market) 2. Threat of Substitutes (How easily can the product be replicated to meet the same customer needs) 3. Bargaining Power of Buyers (how easily can customers influence price of the product or service) 4. Bargaining Power of Suppliers (how easily can suppliers sell their goods at high prices) 5. Rivalry among Existing Competitors (how fierce is the battle for position and how aggressive is competition in the industry) Buyer power high when: - correct answer buyers have many choices Supplier power high when: - correct answer buyers have few choices Threat of substitutes is high when: - correct answer there are many alternatives Threat of New Entrants is high when: - correct answer barriers to entry are low Rivalry is high when: - correct answer competition is fierce Entry Barrier - correct answer -economies of scales -proprietary product differences -brand identity -switching costs -capital requirements -access to distribution