Question 1

Your boss,Ty Jacob,has asked you to analyze the music industry using Porter's Five Forces model.Which of the following represents the threat of substitute products or services in the music industry?
A)Established record labels like EMI,Sony,Universal.
B)Independent record labels.
C)Game systems like Wii,social networks like Facebook.
D)Taylor Swift,Beyonce,The Beatles,The Stones.

Accepted Answer

Game systems like Wii and social networks offer alternatives or substitute products to purchasing music for a consumer.

Question 2

When analyzing Porter's three generic strategies for entering a market,if you have a focused strategy what market should you target?
A)A niche market.
B)A broad market.
C)Neither niche nor broad markets.
D)Both niche and broad markets.

Accepted Answer

When analyzing Porter's three generic strategies for entering a market,if you have a focused strategy you should target a narrow market,niche market,or a unique market.

Question 3

Your boss,Ty Jacob,has asked you to analyze the music industry using Porter's Five Forces model.Which of the following represents buyer power in the music industry?
A)Established record labels like EMI,Sony,Universal.
B)Walmart,Target,iTunes.
C)Independent record labels.
D)Game systems like Wii,social networks like Facebook.

Accepted Answer

Buyer power in the music industry includes Walmart,Target,and iTunes who purchase music from record labels to sell online and in their stores.

Question 4

Your boss,Kerry Miller,has asked you to analyze the soft drink industry using Porter's Five Forces model.Which of the following represents buyer power in the soft drink industry?
A)Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B)Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C)Zevia Natural Diet Soda begins selling directly over the Internet.
D)Vitamin water,fruit juice,coffee.

Accepted Answer

Buyer power in the soft drink industry is represented by Walmart.

Question 5

Your boss,Kerry Miller,has asked you to analyze the soft drink industry using Porter's Five Forces model.Which of the following represents a substitute product in the soft drink industry?
A)Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B)Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C)Zevia Natural Diet Soda begins selling directly over the Internet.
D)Vitamin water,fruit juice,coffee.

Accepted Answer

Vitamin water,fruit juice,or coffee are all substitute products to a soft drink.

Question 6

Some industries' competition is much more intense than others.Retail grocery stores such as Kroger,Safeway,and Albertson's in the United States experience fierce competition and offer similar marketing campaigns to compete.What is this an example of in terms of Porter's Five Forces?
A)Rivalry among new entrants.
B)Rivalry among existing competitors.
C)Threat of substitute products or services.
D)Buyer power.

Accepted Answer

Some industries' competition is much more intense than others.The retail grocery stores such as Kroger,Safeway,Albertson's,and Ralph's in the United States have fierce competition and similar programs to compete with each other.

Question 7

Jennifer Bloom is writing a paper and she must determine which of Porter's three generic strategies The Museum Company has implemented.Jennifer finds out that The Museum Company offers specialty products found only in museums around the world to affluent customers.What would Jennifer determine The Museum Company is using as its generic strategy?
A)Broad market,low cost.
B)Narrow market,high cost.
C)Broad market,high cost.
D)Narrow market,low cost.

Accepted Answer

The Museum Company competes using a narrow market and high cost focus.

Question 8

Your boss,Kerry Miller,has asked you to analyze the soft drink industry using Porter's Five Forces model.Which of the following represents supplier power in the soft drink industry?
A)Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B)Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C)Zevia Natural Diet Soda begins selling directly over the Internet.
D)Vitamin water,fruit juice,coffee.

Accepted Answer

Supplier power in the soft drink industry is represented by Pepsi.

Question 9

Broad differentiation,broad cost leadership,and _________ create the three generic strategies identified by Porter.
A)Narrow market leadership
B)High cost versus low cost
C)Focused strategy
D)None of the above

Accepted Answer

The three strategies proposed by Porter are 1)broad cost leadership,2)broad differentiation,and 3)focused strategy.

Question 10

If a business is following a focused strategy then its competitive scope is ________.
A)Broad market.
B)Narrow market.
C)Broad range products.
D)Broad range of services.

Accepted Answer

When you have a market segment their competitive scope should be a narrow market,and the cost strategy should be a focused strategy.

Question 11

Which of the following offers an example of a company operating in a narrow-focused market operating as the low-cost provider?
A)Walmart.
B)Tiffany & Co.
C)Neiman Marcus.
D)Payless Shoes.

Accepted Answer

Payless competes by offering a specific product (narrow market)- shoes at low prices.Their strategy is to be the low-cost provider of shoes.

Question 12

According to Porter companies that wish to dominate broad markets should operate using a ________ strategy.
A)Cost leadership with a low cost
B)Differentiation with a low cost
C)Cost leadership with a high cost
D)All of the above

Accepted Answer

According to Porter broad markets should utilize cost leadership with a low cost and differentiation with a high cost.

Question 13

Your boss,Kerry Miller,has asked you to analyze the soft drink industry using Porter's Five Forces model.Which of the following represents a threat of a new entrant in the soft drink industry?
A)Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B)Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C)Zevia Natural Diet Soda begins selling directly over the Internet.
D)Vitamin water,fruit juice,coffee.

Accepted Answer

Zevia Natural Diet Soda represents a new entrant in the soft drink industry.

Question 14

Which of the following demonstrates a company that has implemented a low cost,broad market strategy?
A)Neiman Marcus.
B)Payless Shoes.
C)The Sharper Image.
D)Walmart.

Accepted Answer

Walmart competes by offering a broad range of products at low prices.Its business strategy is to be the low-cost provider of goods for the cost-conscious consumer.

Question 15

Which of the following offers an example where Porter's Five Forces are mostly strong and competition is high?
A)A dog walking business.
B)A ski resort.
C)A professional hockey team.
D)All of the above.

Accepted Answer

With Porter's Five Forces model,these are all examples of strong forces,where it increases competition: 1)a single consumer purchasing milk,2)a company that makes pencils,3)coffee from McDonalds,4)a dog walking business,and 5)a coffee shop.

Question 16

Your boss,Kerry Miller,has asked you to analyze the soft drink industry using Porter's Five Forces model.Which of the following represents rivalry in the soft drink industry?
A)Pepsi requires stores that carry Pepsi products to commit to minimum orders of 1,000 cases.
B)Walmart negotiates a lower cost per bottle from Coke in exchange for premium shelf space in every Walmart store.
C)Zevia Natural Diet Soda begins selling directly over the Internet.
D)Coke and Pepsi submit bids to the owner of a football stadium for the exclusive sale of their products during games.

Accepted Answer

The rivalry between Coke and Pepsi is famous in the soft drink industry.

Question 17

Which of the following offers an example where Porter's Five Forces are mostly weak and competition is low?
A)An international hotel chain purchasing milk.
B)A coffee shop.
C)A single consumer purchasing milk.
D)A dog walking business.

Accepted Answer

With Porter's Five Forces model,these are all examples of weak forces,where it decreases competition: 1)an international hotel chain purchasing milk,2)a company that makes airline engines,3)cancer drugs from a pharmaceutical company,4)a professional hockey team,and 4)department of Motor Vehicles.

Question 18

Your boss,Ty Jacob,has asked you to analyze the music industry using Porter's Five Forces model.Which of the following represents supplier power in the music industry?
A)Established record labels like EMI,Sony,Universal.
B)Walmart,Target,iTunes.
C)Game systems like Wii,social networks like Facebook.
D)Taylor Swift,Beyonce,The Beatles,The Stones.

Accepted Answer

An example of supplier power in the music industry includes established record labels like EMI,Sony,and Universal.

Question 19

Porter identified three generic strategies that a business could follow after identifying a market it wanted to enter.Which of the following is not included as one of Porter's three generic strategies?
A)Broad differentiation.
B)Supplier cost differentiation.
C)Focused strategy.
D)Broad cost leadership.

Accepted Answer

Porter has identified three generic business strategies for entering a new market: 1)broad cost leadership,2)broad differentiation,and 3)focused strategy.

Question 20

Amazon.com uses a customer profiling system whenever a customer visits its website.Using this system,Amazon can offer products tailored to that particular customer's profile and buying pattern.What is Amazon using to achieve this competitive advantage?
A)Rivalry.
B)Buyer power.
C)Product differentiation.
D)Substitute product.

Accepted Answer

Product differentiation is an advantage that occurs when a company develops unique differences in its products with the intent to influence demand.

Quiz 1: Management Information Systems: Business Driven MIS

Your boss,Ty Jacob,has asked you to analyze the music industry using Porter's Five Forces model.Which of the following represents the threat of substitute products or services in the music industry?

When analyzing Porter's three generic strategies for entering a market,if you have a focused strategy what market should you target?

Your boss,Ty Jacob,has asked you to analyze the music industry using Porter's Five Forces model.Which of the following represents buyer power in the music industry?

Your boss,Kerry Miller,has asked you to analyze the soft drink industry using Porter's Five Forces model.Which of the following represents buyer power in the soft drink industry?

Your boss,Kerry Miller,has asked you to analyze the soft drink industry using Porter's Five Forces model.Which of the following represents a substitute product in the soft drink industry?

Some industries' competition is much more intense than others.Retail grocery stores such as Kroger,Safeway,and Albertson's in the United States experience fierce competition and offer similar marketing campaigns to compete.What is this an example of in terms of Porter's Five Forces?

Your boss,Kerry Miller,has asked you to analyze the soft drink industry using Porter's Five Forces model.Which of the following represents supplier power in the soft drink industry?

Broad differentiation,broad cost leadership,and _________ create the three generic strategies identified by Porter.

If a business is following a focused strategy then its competitive scope is ________.

Which of the following offers an example of a company operating in a narrow-focused market operating as the low-cost provider?

According to Porter companies that wish to dominate broad markets should operate using a ________ strategy.

Your boss,Kerry Miller,has asked you to analyze the soft drink industry using Porter's Five Forces model.Which of the following represents a threat of a new entrant in the soft drink industry?

Which of the following demonstrates a company that has implemented a low cost,broad market strategy?

Which of the following offers an example where Porter's Five Forces are mostly strong and competition is high?

Your boss,Kerry Miller,has asked you to analyze the soft drink industry using Porter's Five Forces model.Which of the following represents rivalry in the soft drink industry?

Which of the following offers an example where Porter's Five Forces are mostly weak and competition is low?

Your boss,Ty Jacob,has asked you to analyze the music industry using Porter's Five Forces model.Which of the following represents supplier power in the music industry?

Porter identified three generic strategies that a business could follow after identifying a market it wanted to enter.Which of the following is not included as one of Porter's three generic strategies?

Amazon.com uses a customer profiling system whenever a customer visits its website.Using this system,Amazon can offer products tailored to that particular customer's profile and buying pattern.What is Amazon using to achieve this competitive advantage?