BSG Exam 1 | Questions and Correct Solutions 2024

BSG Exam 1 | Questions and Correct Solutions 2024 Factors that weaken the rivalry among competing sellers include - Answer - High buyer costs to switch brands company industry rivals that any one company's actions have little impact on rivals' businesses, and rapid growth in buyer demand Which one of the following conditions acts to intensify the competitive pressures associated with the threat of entry? - Answer - A general belief on the part of entry candidates that industry members are unwilling or unable to strongly contest the efforts of newcomers to gain a market foothold A competitive environment where there is strong rivalry among sellers, low entry barriers, strong competition from substitute products, and considerable bargaining leverage on the part of both suppliers and customers - Answer - Makes it hard for industry members to earn attractive profits Which one of the following is not a factor that affects the strength of supplier bargaining power? - Answer - Whether there are greater or fewer than ten suppliers of the item being purchased from suppliers Potential entrants are more likely to be deterred from actually entering an industry when - Answer - Industry incumbents are willing and able to launch strong defensive maneuvers to maintain their positions and make it harder for a newcomer to compete successfully and profitably Which one of the following is not a useful question for company managers to pose in trying to predict the likely actions of important rivals? - Answer - Which competitors are in the best strategic group in the industry? Which of the following is a major question to ask in assessing a company's industry and competitive environment? - Answer - What forces are driving changes in the industry, and what impact will these changes have on competitive intensity and industry profitability? The "driving forces" in an industry - Answer - are the major underlying causes of changing industry and competitive conditions and have the biggest influence on how the industry landscape will be altered Which of the following statements about the market maneuvering