Question;122. Shawn McGill is on the executive board for ABC;pharmaceuticals. The company produces the number-one-selling cancer-fighting;drug on the market. Due to its incredible success, ABC Pharmaceuticals has;decided to increase the cost of the drug from $8 a pill to $15 a pill. Which;force is ABC Pharmaceutical using to increase its drug price?;A. Supplier power.;B. Buyer power.;C. Threat of false entrants.;D. Business power.;123. What is one of the most common ways a company can;decrease supplier power?;A. Charge lower prices.;B. Charge higher prices.;C. Use MIS to find and create alternative products.;D. Companies cannot affect supplier power.;124. If a supplier has high power, what can it do to;influence its industry?;A. Charge higher prices.;B. Shift costs to industry participants.;C. Limit quality or services.;D. All of these.;125. When buyer power is low, supplier power is;typically ______.;A. Identical.;B. High.;C. Low.;D. Unstable.;126. How can a company reduce the threat of substitute;products or services?;A. Market the product to less than ten customers.;B. Ignore competitive forces.;C. Offer additional value through wider product distribution.;D. Offer less value, making the product far more generic and similar to;the competition.;127. Which one of Porter's Five Forces is high when it;is easy for new competitors to enter a market and low when there are;significant entry barriers to joining a market?;A. Threat of new entrants.;B. Threat of substitute products or services.;C. Threat of buyer power.;D. Supply chain competition.;128. John Cleaver is the CEO of Tech World, which is a;retail store that sells computers, monitors, cameras, televisions, and many;other electronic products. John and his executive team are meeting to;brainstorm new ideas on how to grow the business. One idea is to mimic a;competitor's product that is attempting to sell a new product in a different;industry. After performing a Porter's five forces analysis, John determines;that all of the forces are high in this new industry. What should John;do?;A. Explode into the market with an overflow of the product.;B. Contemplate other products to introduce at the same time in this new;market.;C. Compare the competitor's prices and offer his product lower in this new;market.;D. Not introduce the product because all five forces are strong, and this;would be a highly risky business strategy.
Paper#55242 | Written in 18-Jul-2015Price : $22