Question 1

For the past several years the borrowing interest rates has been very low in the United States.This is an example of a(n) ______________ trend.

Accepted Answer

A)  economic
B)  sociocultural
C)  political/legal
D)  demographicE) None of the above
F) A) and B)

Question 2

As the success of the athletic teams at O-MY-U skyrocketed,so did attendance at the games.Out-of-town visitors found all the hotels fully booked.So Bob and Shirley opened their home to guests on weekends,operating as a bed-and-breakfast.Soon many of their neighbors did the same and Bob and Shirley found they could no longer fill all their rooms every game weekend.How would Michael Porter explain this?

Accepted Answer

A)  The focus strategy was imitated.
B)  Demand disappeared.
C)  The target segment lost its uniqueness.
D)  The industry became further segmented.E) A) and B)
F) B) and C)

Question 3

An inside-out analysis is one that:

Accepted Answer

A)  considers the general environment and industry setting.
B)  catalogs the startup's sources of potential strengths.
C)  considers the strengths of buyers and suppliers.
D)  catalogs the possible responses of rivals in the industry.E) B) and C)
F) All of the above

Question 4

Which of the following could be considered a core competency?

Accepted Answer

A)  Zappos' 365 day return policy
B)  NutriSystem's claim that users lose weight by eating
C)  McDonald's ability to fry hamburgers quickly
D)  Southwest Airlines' ability to make flying funE) None of the above
F) A) and D)

Question 5

An increase in the bargaining power of suppliers

Accepted Answer

A)  increases both the attractiveness and the profitability of the target market.
B)  decreases both the attractiveness and the profitability of the target market.
C)  decreases the attractiveness and increases the profitability of the target market.
D)  increases the attractiveness and decreases the profitability of the target market.E) All of the above
F) None of the above

Question 6

Alyson and Andrea,country artists,realized that their love of classic rock was also popular with their fans.Their change to their show to incorporate more rock songs with a country flavor is an example of

Accepted Answer

A)  recognizing a hot trend and riding the wave.
B)  combining two businesses into one to create a market opening.
C)  beginning with a problem in mind.
D)  finding a way to adapt a product or service to meet customer needs in a different way.E) C) and D)
F) A) and C)

Exam 3: Starting a Small Business

An inside-out analysis is one that:

Correct Answer
verified

For the past several years the borrowing interest rates has been very low in the United States.This is an example of a(n) ______________ trend.

Correct Answer
verified

An increase in the bargaining power of suppliers

Correct Answer
verified

Alyson and Andrea,country artists,realized that their love of classic rock was also popular with their fans.Their change to their show to incorporate more rock songs with a country flavor is an example of

Correct Answer
verified

Which of the following could be considered a core competency?

Correct Answer
verified

Correct Answer
verified

Exam 3: Starting a Small Business

An inside-out analysis is one that:

Correct AnswerverifiedShow Answer

For the past several years the borrowing interest rates has been very low in the United States.This is an example of a(n) ______________ trend.

Correct AnswerverifiedShow Answer

An increase in the bargaining power of suppliers

Correct AnswerverifiedShow Answer

Alyson and Andrea,country artists,realized that their love of classic rock was also popular with their fans.Their change to their show to incorporate more rock songs with a country flavor is an example of

Correct AnswerverifiedShow Answer

Which of the following could be considered a core competency?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified