Question Essay 101. Michael Porter has identified five forces that determine the intrinsic

Essay

101. Michael Porter has identified five forces that determine the intrinsic long-run attractiveness of a market or market segment. Briefly, list and characterize those forces.

102. There are four industry structure types associated with an industry concept of competition. List and briefly characterize those four (4) types.

103. Industries differ greatly in ease of entry. List four typical entry barriers into a market?

104. Discuss the concept of vertical integration by examining the term and the advantages and disadvantages of integration. Illustrate your thoughts with an example of how the process works.

105 In general, a company should monitor three variables when analyzing competitors. List and briefly characterize those three variables?

106. The market leader must work hard to stay on top of its market. Three strategies can be crafted to achieve this objective. Describe these three strategies and any relevant sub-strategies that are necessary for accomplishing the primary objective.

107. Assume that your organization has chosen to pursue a market leader strategy of the flank defense. Describe what such a strategy might be.

108. Assume that you are the marketing manager for a market challenger that is seeking to attack the market leader with an encirclement attack. Describe the encirclement attack and evaluate probable success using this strategy.

109. Characterize the four broad strategies often employed by market followers to meet their competitors.

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110. The market nicher is a specialist. Characterize five niche specialist roles that can be assumed by the market nicher.

APPLICATION QUESTIONS

Multiple Choice

111. Which of the following companies saw sales plummet from a peak of $7.1 billion in 1996 to about $4 billion in 2003 in part because of fierce competition in the fashion jeans business?

a. Wrangler’s

b. Arizona Jeans

c. Levi Strauss

d. Canyon River Blues

e. Lee Jeans

112. A market segment’s attractiveness varies with the height of its entry and exit barriers. Which of the following forces as described by Michael Porter would most likely be the force being examined if the above situation were to be considered by a marketing manager?

a. Threat of intense segment rivalry.

b. Threat of new entrants.

c. Threat of substitute products.

d. Threat of buyers’ growing bargaining power.

e. Threat of suppliers’ growing bargaining power.

113. During the 2004 holiday season ________ from discounters Wal-Mart, Target, and even electronics vendors such as Best Buy and Circuit City has pummeled the toy chains and sent some of them into bankruptcy.

a. creative advertising

b. global alliances

c. pricing pressure

d. regulation pressure

e. superior management knowledge

114. Marketing managers must be keenly aware of ________—a focus on current competitors rather than latent ones—or risk becoming extinct.

a. marketing myopia

b. channel myopia

c. promotion myopia

d. competitor myopia

e. consumer myopia

115. Each marketing manager needs to be aware of the industry in which they compete. Industries can be classified according to all of the following EXCEPT ________.

a. degree of usage of promotion

b. number of sellers

c. degree of product differentiation

d. degree of vertical integration

e. degree of globalization

116. The oil and steel industries have unique industrial structure. Which of the following industry structural types is usually associated with the oil and steel industries?

a. Pure monopoly

b. Monopolistic competition

c. Pure competition

d. Pure oligopoly

e. Differentiated oligopoly

117. All of the following are considered to be exit barriers in a marketplace that must be considered by the marketing manager EXCEPT ________.

a. emotional barriers

b. high vertical integration

c. government restrictions

d. lack of alternative opportunities

e. economies of scale

118. According to concepts associated with the idea of a strategic group, which of the following appliance industry competitors would most aptly be described as being a member of a strategic group that has a narrow line, lower manufacturing costs, very high service, and a high relative price of its products?

a. Maytag

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