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Exam 5: Competitive Rivalry and Competitive Dynamics

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Question 21

True/False

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Two firms, such as Fed Ex and UPS that have similar resources and common markets would be direct and mutually acknowledged competitors.

A) True
B) False

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Question 22

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The competitive actions and responses in __________ markets are designed to seek large market shares, to gain customer loyalty through brand names, and to carefully control the firm's operations in order to consistently provide the same positive experience for customers.

A) standard-cycle
B) fast-cycle
C) slow-cycle
D) intermediate-cycle

E) C) and D)
F) B) and D)

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Question 23

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Which of the following is an example of a tactical action?

Walmart's aggressive pricing strategy is a strategic action that plays a major role in how it competes.

Firms with ______ market commonality and _____ resource similarity are direct and mutually acknowledged competitors.

Lawsuits over patent and copyright infringements are more common and intense in:

The chief disadvantage of being a first mover is the:

Which of the following is an example of a strategic action?

Firms with high market commonality and highly similar resources are direct and mutually acknowledged competitors.

A company in a ____ industry is LEAST likely to make heavy use of patents and copyrights.

The satellite dish at Faye's weekend home has malfunctioned. When she calls to have the dish repaired, the service representative tells her that the dish is obsolete and that parts for it are no longer made. Faye must replace the old dish with a new dish. This is an example of lack of firm loyalty to a product in a fast-cycle market.

A strategy's success is determined not only by the firm's initial competitive actions but also by how well it anticipates competitors' responses to them and by how well the firm anticipates and responds to its competitors initial actions.

Disney is an example of a firm in a slow-cycle market because its animated characters are shielded from imitation by copyrights and trademarks.

It is more likely that locally owned, one-location cafes in a small town will respond more rapidly to tactical actions by each other than they will to strategic actions by the Burger King franchise that has recently moved to their town.

Carl has just graduated with a management degree. He has a good understanding of his personal strengths and weaknesses and knows he would fit best in a stable organizational environment. In his job search, Carl should target firms in slow-cycle markets.

Akamai Technologies is a dominant player in the content delivery network (CDN) market. Akamai is not very diversified (i.e., is dependent on the CDN market) . If rival CDN providers such as Limelight Networks and Level 3 Communications lower their basic CDN service prices, what would be Akamai's likely response?

Which of the following is TRUE of Southwest Airlines?

Patent laws and regulatory requirements such as required FDA (Food and Drug Administration) approval to launch new products shield pharmaceutical companies' positions in this slow-cycle market.

Competitive rivalry is the set of competitive actions and responses that occur among firms as they maneuver for an advantageous market position.

____ markets are often described as volatile and innovative.