Managing in Complex Environments QUIZ #2 Name:_________________________________Fall semester, 2006Professor Atkin My lecture time is: _____ ID# _________________________________SAMPLE QUIZ #2 – PLEASE NOTE: QUESTIONS 1 – 12 ARE FROM CHAPTER 3; 13 – 28 ARE FROM CHAPTER 4; OTHERS WERE FROM CHAPTER 5 FOR WHICH YOU ARE NOT RESPONSIBLE AT THIS TIME & HENCE ARE NOT INCLUDED HERE. This closed-book, closed-note quiz has 35 3-point questions to be answered on optical scansheets. When done with the quiz, please complete the peer evaluation. To get a grade, youmust return (a) the quiz, (b) the answer sheet, and (c) the completed peer evaluation. Goodluck!1. All other things equal, a supply-side industry definition… Aa. identifies more rivals than a demand-side definition b. is more appropriate for goods industries than for service industriesc. both of the above d. none of the above2. The goal of industry analysis is to understand why some firms do well even in unattractive industries.a. true b. false B3. Most industries are… Ba. monopolies b. oligopoliesc. perfect competitions d. insufficient information to determine4. Focused firms are firms that engage in… Da. related diversification b. unrelated diversificationc. both of the above d. none of the above5. When suppliers have relatively greater power than the industry rivals… Ca. raw material prices charged by the suppliers tend to increaseb. rivals’ expenditures tend to increasec. both of the above d. none of the above 6. In Industry 1, we observe many new entrants. Industry 2, we observe many substitutes.All other things equal, we can conclude… Da. Industry 1 is more attractive than Industry 2b. Industry 1 is less attractive than Industry 2c. both industries are equally attractived. insufficient information to determine7. If an industry is attractive, then we can conclude that there are few rivals and they are probably large.a. true b. false B8. Consider two industries. In Industry 1, the product is standardized, aggregate demand is flat-to- declining, and capacity exceeds demand. In Industry 2, supplier power is high, customer power is high, and there are many new entrants. Given just this information, we can conclude… Aa. Industry 1 is probably mature b. Industry 2 is attractivec. both of the above d. none of the above9. Exit costs… Ba. are costs incurred by customers of the industry when a rival exits the industryb. are costs incurred by a rival attempting to leave the industryc. are costs incurred by suppliers to the industry when a rival exits the industryd. All of the above10. When a firm spends one resource to build another resource, we say the firm… Ba. has diversified b. has investedc. has pursued a niche strategy d. all of the above11. A bona fide transaction is an actual exchange among parties that have some form of communication, is freely made, and is expected to produce benefits to all parties. Aa. true b. false12. In the Porter model, marketing channels are assumed to exist between… Ca. rivals and customers b. rivals and suppliersc. both of the above d. none of the above 13. Since premium goods are higher priced than discount goods,… D1a. premium goods provide greater value b. discount goods provide greater valuec. switching costs are typically greater for premium goodsb. none of the above14. Marketing is… Ca. the process of planning and executing various functions to create exchanges that satisfyindividual and organizational goalsb. the process by which one party attempts to increase the likelihood of striking the transaction they wish to strike.c. both of the above d. all of the above15. The dominant driving force of the products made by most firms today is to make whatever is “hot.” Ba. true b. false16. Product development, buying, selling, and risk management are all… Aa. marketing functions b. activities of third partiesc. segmentation variables d. all of the above17. Decisions to extend a product line… Da. require a risky investment b. changes the product mixc. changes the marketing mix d. all of the above18. We assume the parties to a transaction are rational. This implies that buyers… Ba. search all alternatives b. chose from among a constrained set of alternatives c. choose the lowest cost alternative d. choose the highest cost alternative they can afford19. American Eagle and Abercrombie & Fitch each market apparel using… Ba. a total market approach b. a proprietary brand strategyc. both of the above d. none of the above1. A “knock-off” is… Da. a steeply discounted national brand b. a product produced by a rapid second moverc. a plot twist in an episode of the Sopranos d. none of the above2. High levels of brand loyalty… Ca. increases brand equity b. reduces customer powerc. both of the above d. none of the above2. First movers use… Ca. family branding b. individual brandingc. both of the above d. none of the above2. Early adopters… Ca. tend to reduce the risk associated with being a first moverc. may be a source of new product ideasd. both of the above d. none of the above20. Goods scarcity is most likely to be observed during the _______ phase of the life cycle. Ba. introduction b. growthc. mature d. decline21. The trigger for the entry of slow second movers is typically… Aa. market characteristics become well understoodb. capacity shortages disappearc. both of the above d. none of the
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