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1.
What is a competitive advantage?
A)A service that an organization's customers value more highly than similar offerings from a supplier
B)A product or service that an organization's customers value more highly than similar offerings from a competitor
C)A product that an organization's customers value the same as an identical offer from a competitor
D)A product or service that an organization's customers value more highly than similar offerings from a supplier
2.
Which company uses environmental scanning to determine everything from how well competing products are selling to the strategic placement of its own products?
A)Frito Lay
B)FedEx
C)KIA
D)All of the above
3.
Which of the following forces is commonly reduced through the use of a loyalty program?
A)Threat of new entrants
B)Rivalry among existing competitors
C)Supplier power
D)Buyer power
4.
What is a business-to-business (B2B) marketplace in which a single buyer posts its needs and then opens the bidding to any supplier who would care to bid?
A)Private exchange
B)Private auction
C)Reverse auction
D)Buyer power
5.
Which of the following is an example of the way that information technology can reduce supplier power for an organization and create a competitive advantage?
A)Switching costs
B)Entry barrier
C)Reverse auction
D)Loyalty program
6.
Which of the following is Hyundai using as its generic strategy?
A)Broad differentiation
B)Focused cost leadership
C)Focused differentiation
D)None of the above
7.
Which part of the value chain acquires raw materials and manufactures, delivers, markets, sells, and provides after-sales services?
A)Primary value activities
B)Secondary value activities
C)Support value activities
D)None of the above





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