Question 1

_________ offers mass customization and made-to-measure jeans and swimsuits.

Accepted Answer

Bodymetrics specifically offers mass customization and made-to-measure jeans and swimsuits. Clothes Horse provides personalized size recommendations based on a customer's preferences and past purchases, but does not offer customization. LoveThatFit offers virtual try-on technology and size recommendations, but does not offer customization. Virtusize offers size comparison technology for online shoppers, but does not offer customization.

Question 2

Target tried to move into Canada by __________.

Accepted Answer

Target's strategy for moving into Canada involved purchasing old Zellers' locations and converting them into Target stores.

Question 3

_________ set the industry standard on returns,pioneering no-cost shipping and handling for returns.

Accepted Answer

Zappos is known for pioneering the industry standard on returns with their no-cost shipping and handling policy.

Question 4

Buyer power is _________ when buyers have many choices from whom to buy and _________ when buyers have few choices.

Accepted Answer

When buyers have many choices, they have more bargaining power and can demand lower prices or better quality. This means that the buyer power is high. When buyers have few choices, they have less bargaining power and may have to accept higher prices or lower quality. This means that the buyer power is low. Therefore, B is the best choice as it correctly identifies high buyer power when buyers have many choices and low buyer power when buyers have few choices.

Question 5

Supplier power is _________ when buyers have few choices from whom to buy and _________ when buyers have many choices.

Accepted Answer

When buyers have few choices from whom to buy, suppliers have more power to dictate prices and terms of sale, resulting in a high supplier power. Conversely, when buyers have many choices, suppliers have less power and are more likely to compete on price and quality, resulting in a low supplier power. Therefore, option B is the correct answer as it represents the inverse relationship between the number of choices available to buyers and the level of supplier power.

Question 6

_________ is a startup that allows consumers to send in a full body picture taken in tight clothes.Their website is social and allows customers to discuss potential purchases within their network.

Accepted Answer

LoveThatFit is a startup that allows consumers to send in a full body picture taken in tight clothes and has a social website for customers to discuss potential purchases.

Question 7

If there are _________ alternatives to an organization's products or services,then the threat of substitutes is high; if there are _________ alternatives,then the threat is low.

Accepted Answer

If there are many alternatives to an organization's products or services, then customers have more options to choose from, thereby increasing the threat of substitutes. On the other hand, if there are few alternatives, then customers are more likely to stick with the organization's products or services, reducing the threat of substitutes.

Question 8

Which of the following reduces buyer power?

Accepted Answer

Loyalty programs reduce buyer power by increasing customer loyalty and incentivizing them to continue purchasing from a specific company, even if they have other options available.

Question 9

_________ takes the measurements of users' favorite items of clothing for an online comparison and then creates digital garments for the customer to compare.

Accepted Answer

Virtusize is a service that allows users to compare the measurements of their favorite clothing items with digital garments online, helping them find the right fit.

Question 10

Porter's competitive forces model identifies _________ major forces that can endanger or enhance a company's position in a given industry.

Accepted Answer

Porter's competitive forces model identifies five major forces that shape the competitive landscape and can affect a company's strategic positioning. These forces are the threat of new entrants, the bargaining power of suppliers, the bargaining power of buyers, the threat of substitute products or services, and the intensity of competitive rivalry.

Question 11

Supplier power is high when buyers have _________ choices from whom to buy and low when buyers have _________ choices.

Accepted Answer

When buyers have few choices from whom to buy, suppliers have more power because buyers are reliant on them for their goods or services. On the other hand, when buyers have many choices, suppliers have less power because buyers have more options to choose from and can easily switch to other suppliers if they are not satisfied with one.

Question 12

The best-known framework for analyzing competitiveness is ________'s competitive forces model.

Accepted Answer

The best-known framework for analyzing competitiveness is Porter's competitive forces model, which outlines the five competitive forces that shape industry competition: supplier power, buyer power, competitive rivalry, threat of substitution, and threat of new entry.

Question 13

Which of the following increases supplier power?

Accepted Answer

Integrated supply chains increase supplier power by allowing them to have more control and influence over the entire supply chain. This can make it more difficult for buyers to negotiate favorable terms and prices.

Note: A, C, and D have no direct impact on supplier power.

Question 14

The threat of new competitors will enter your market is high when entry is _________ and low when there are _________ barriers to entry.

Accepted Answer

The threat of new competitors entering a market is high when entry is easy and low when there are significant barriers to entry. This is because significant barriers can deter new competitors due to the high costs or difficulties associated with entering the market.

Question 15

The threat from rivalry is _________ when there is intense competition among many firms in an industry and _________ when competition is not as intense.

Accepted Answer

The first blank should be filled with "high" as there is intense competition among many firms in the industry. The second blank should be filled with "low" as the competition is not as intense. Therefore, option B is the correct choice.

Question 16

Buyer power is high when buyers have _________ choices from whom to buy and low when buyers have _________ choices.

Accepted Answer

When buyers have many choices from whom to buy, their power is high because they have more options and can select suppliers who offer the best quality, price, and service. On the other hand, when buyers have few choices, their power is low because they have limited options and may have to accept higher prices or lower quality from the available suppliers. Therefore, option C is the correct answer as it shows that buyers have many choices, which implies high buyer power.

Question 17

The threat of new competitors will enter your market is _________ when entry is easy and _________ when there are significant barriers to entry.

Accepted Answer

When entry is easy, such as in industries with low startup costs or few regulations, there is a higher likelihood of new competitors entering the market. On the other hand, when there are significant barriers to entry, like high costs or strict regulations, it becomes more difficult for new competitors to enter the market, resulting in a lower threat of new entrants.

Question 18

If there are many alternatives to an organization's products or services,then the threat of substitutes is _________; if there are few alternatives,then the threat is ______.

Accepted Answer

When there are many alternatives to an organization's products or services, customers have more options to choose from, leading to a higher threat of substitutes. On the other hand, when there are few alternatives, customers are more likely to stick with the organization's products or services, leading to a lower threat of substitutes. Therefore, the correct answer is B: high threat of substitutes when there are many alternatives and low threat when there are few alternatives.

Question 19

_________ has developed software to take data from shoppers and apparel manufacturers and then makes a recommendation to a customer regarding fit.

Accepted Answer

Clothes Horse developed software that analyzes data from shoppers and apparel manufacturers to provide personalized fit recommendations to customers.

Question 20

You have to offer online banking if you want to operate a bank.This is a(n)________.

Accepted Answer

An entry barrier is a condition that must be met before a firm can enter the market. In this case, offering online banking is a mandatory requirement for operating a bank. Therefore, it is an entry barrier. The other options are not relevant to the given statement.

Quiz 2: Organizational Strategy, Competitive Advantage, and Information Systems

_________ offers mass customization and made-to-measure jeans and swimsuits.

Target tried to move into Canada by __________.

_________ set the industry standard on returns,pioneering no-cost shipping and handling for returns.

Buyer power is _ when buyers have many choices from whom to buy and _ when buyers have few choices.

Supplier power is _ when buyers have few choices from whom to buy and _ when buyers have many choices.

_________ is a startup that allows consumers to send in a full body picture taken in tight clothes.Their website is social and allows customers to discuss potential purchases within their network.

If there are _ alternatives to an organization's products or services,then the threat of substitutes is high; if there are _ alternatives,then the threat is low.

Which of the following reduces buyer power?

_________ takes the measurements of users' favorite items of clothing for an online comparison and then creates digital garments for the customer to compare.

Porter's competitive forces model identifies _________ major forces that can endanger or enhance a company's position in a given industry.

Supplier power is high when buyers have _ choices from whom to buy and low when buyers have _ choices.

The best-known framework for analyzing competitiveness is ________'s competitive forces model.

Which of the following increases supplier power?

The threat of new competitors will enter your market is high when entry is _ and low when there are _ barriers to entry.

The threat from rivalry is _ when there is intense competition among many firms in an industry and _ when competition is not as intense.

Buyer power is high when buyers have _ choices from whom to buy and low when buyers have _ choices.

The threat of new competitors will enter your market is _ when entry is easy and _ when there are significant barriers to entry.

If there are many alternatives to an organization's products or services,then the threat of substitutes is ___; if there are few alternatives,then the threat is .

_________ has developed software to take data from shoppers and apparel manufacturers and then makes a recommendation to a customer regarding fit.

You have to offer online banking if you want to operate a bank.This is a(n) ________.