Exam 3

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Exam # 3-Chapt. 5

Indicate the answer choice that best completes the statement or answers the question.

1. An organization’s loyalty to its own product is a competitive disadvantage in a ____ market.

a. slow-cycle

b. standard cycle

c. intermediate cycle

d. fast-cycle

2. On the whole there are more competitive responses to

a. strategic actions than to tactical actions.

b. tactical actions than to strategic actions.

c. buyer pressures than to supplier pressures.

d. the demands of the top management team than to industry structural pressures.

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

competitors.

a. low; high

b. low; low

c. high; high

d. high; low

4. Lawsuits over patent and copyright infringements are more common and intense in

a. fast-cycle markets because the market is innovation-driven.

b. standard­cycle markets because the firm’s brand name is such an important competitive advantage.

c. slow-cycle markets, because of the ability to shelter the company from imitation of its competitive

advantage.

d. standard-cycle markets because innovation is rare, and so gives the innovating firm a significant

competitive advantage.

5. 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

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

a. slow-cycle

b. medium-cycle

c. standard-cycle

d. fast-cycle

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Name:

Class:

Date:

Exam # 3-Chapt. 5

7. Traditionally, the music industry signed multi-year contracts with artists and sold copyright protected music

through established distribution...