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Cards In This Set
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Factors such as BidBuy's feedback rating system that are valuable to the company's customers but which are not useful on other online auction sites are examples of
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Customer-switching costs
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The ___ consists of broad trends in the context in which a firm operates that can have an impace on a firm's strategic choices.
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General environment
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Frequent price cutting by firms in an industry, frequent introduction of new products by firms in an industry and intense advertising campaings are indications of
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High levels of rivalry
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The most promosing opportunity for a firm in a declining industry is to
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Become a market leader in the pre-shakeout industry
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The threat of suppliers in the hardwood furniture can best be described as
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Low because there are a large number of suppliers selling an undifferentiated product
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Buyers tend to have less power when
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The supplies they purchase are an insignificant portion of the costs of their final products
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Firms that have either recently begun operations in an industry or that threaten to begin operations in an industry soon are considered to be ___ in the five forces framework.
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New entrants
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Rivalry tends to be high when
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Firms are unable to differentiate their products
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Firms that engage in a long, systematic phased withdrawal from an industry, extracting as much value as possible during the withdrawal period, are following a(n) ____ strategy.
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Harvest
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___ is/are the distribution of individuals in a society in terms of age, sex, marital status, income, ethnicity, and other personal attributes that may determine buying patterns.
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Demographics
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Industries in which a large number of small or medium-sized firms operate and no small set of firms has dominant market share or creates dominant technologies are called ____ industries.
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Fragmented
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The threat of rivalry in the hardwood furniture industry can best be described as
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High because of the numerous firms in the industry and the slow growth rate
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Most firms have a resource base that is comprosed primarily of resources and capabilities that are
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Valuable but not rare
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In general, as long as the number of firms that possess a particular valuable resource or capability is less than the number of firms needed to generate the perfect competition dynamics in an industry, that resource or capability can be considered ___ and a potential source of competitive advantage.
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Rare
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LaserTech's new technology is an example of
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Physical resources.
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