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23 Cards in this Set
- Front
- Back
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when is buyer power high?
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when the buyer has many choices of whom to buy from
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when is buyer power low?
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when their choices are few
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How do you reduce buyer power?
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create a competitive advantage
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When is supplier power high?
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when buyer have few choices
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when is supplier power low?
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when the buyer has many choices
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the threat of the substitutes products or service is high when?
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there are many alternatives
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the threat of the substitutes products or service is low?
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when there are few alternatives
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what makes customers reluctant to switch to another product or service
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switching costs
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the threat of new entrants is high when?
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it is easy for new competitors to enter market
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when is the threat of new entrance low?
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when there are significant entry barriers
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what is an entry barrier?
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a product or service that customers have come to expect from organizations in a particular industry and service
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rivalry among existing competitors is high when the market is
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fierce
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rivalry among existing competitors is low when the market is
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complacent
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broad cost leadership strategy has the characteristics of
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low-cost that appears to a large audience
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a broad differentiation strategy has
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several price points to reach a large stratified audience
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a focused cost leadership strategy
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is low cost in lower model stratification
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What is the acquisition and analysis of events and trends in the environment external to an organization?
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Environmental scanning
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Which of the following forces is commonly reduced through the use of a loyalty program?
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Rivalry among existing competitors
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Which part of the value chain acquires raw materials and manufactures, delivers, markets, sells, and provides after-sales services?
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Primary value activities
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All of the following are part of Porter’s Three Generic Strategies, except:
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Business process strategy
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Which approach views an organization as a series of process, each of which adds value to the product or service for each customer?
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Value chain
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Which type of organization structure has formal/ informal communication networks that connect all?
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Network
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Which of the following represents supplier power in Porter’s Five Forces Model?
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High when buyers have few choices of whom to buy from and low when their choices are many
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