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Strategic Management: SEVI 3013 Questions and Answers, Exams of Marketing Business-to-business (B2B)

University of Arkansas (UA)Marketing Business-to-business (B2B)

A collection of questions and answers related to sevi 3013 strategic management. It covers key concepts such as industry analysis, competitive strategy, porter's five forces model, and the general environment. Useful for students seeking to understand and review these concepts.

Typology: Exams

2024/2025

Available from 02/14/2025

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SEVI 3013 Strategic Management | Questions
with 100% Correct Answers | Verified |
Latest Update 2025
who you define as your competition
also depends on - ✔✔your industry boundary
What is an Industry? - ✔✔- Set of firms that produce similar products.
- Industry boundaries can change rapidly, typically not always as result, off
innovation.
- industries not always well defined
When you are examining your industry, be conscious of this.
- Be willing to change your perception of industry and have multiple perceptions
of your industry.
telecommunications industry has changed significantly with the advent of -
✔✔high speed Internet rested, their telephone, not just connecting people
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Download Strategic Management: SEVI 3013 Questions and Answers and more Exams Marketing Business-to-business (B2B) in PDF only on Docsity!

SEVI 3013 Strategic Management | Questions

with 100% Correct Answers | Verified |

Latest Update 202 5

who you define as your competition also depends on - ✔✔your industry boundary What is an Industry? - ✔✔- Set of firms that produce similar products.

  • Industry boundaries can change rapidly, typically not always as result, off innovation.
  • industries not always well defined When you are examining your industry, be conscious of this.
  • Be willing to change your perception of industry and have multiple perceptions of your industry. telecommunications industry has changed significantly with the advent of - ✔✔high speed Internet rested, their telephone, not just connecting people

together through traditional telephone links. They also see themselves as providing entertainment. why is an industry boundary so informed? - ✔✔how an industry boundary can make a difference to how strategic manager illustrated by Theodore Live it. In this classical marketing article called Marketing My Opium, he talked about the fact he focused on the railroad industry in the 19 twenties and thirties in the United States, the preeminent industry in the in America, extremely successful people making millions and billions of dollar strategic managers and industry boundaries Effective strategic managers:- - ✔✔- work with multiple definitions during environmental and competitor analysis.

  • are constantly looking for industry transformations that alter industry boundaries

Developing a strategy - ✔✔- The first is the structure or attractiveness of the industry or industries in which we're competing some industries or a lot more profitable than others here in and year out.

  • The second essential question in strategy is a company's position within its industry. determinants of industry profitability - ✔✔ Rivalry among existing competitors - ✔✔One of Porter's five forces; high when competition is fierce in a market and low when competitors are more complacent. Threat of New Entry - ✔✔How easy it is for new competitors to enter the market

Threat of Substitutes - ✔✔Products or services outside an industry meeting the needs of current customers bargaining power of suppliers - ✔✔Suppliers can exert power by threatening to raise prices or reduce the quality of purchased goods and services

  • they can constrain the profitability of industry because they can buy bidding up their own prices, forced the industry to absorb cost that it can't pass on and turn to its own buyers. bargaining power of buyers - ✔✔Buyers can suppress the profitability of the industries from which they purchase by demanding price concessions or increases in quality.
  • by demanding lower prices by expecting more service that they don't pay for

Porter's Five Forces Model of Competition - ✔✔This model determines the future and current profitability of the industry Porters 5 Forces Model - ✔✔- Five forces shape industry structure.

  • If all five forces are favorable (that is, their intensity is low), then the industry is profitable. If even one force is adverse then the industry is not very profitable.
  • Examine the current and future profitability of the industry - so also examine the likely force-intensity in a few years. In order to determine the intensity of any force - ✔✔A variety of factors influence the intensity of each force
  • Examine which factors are relevant
  • Examine each relevant factor for the impact on a given force today, and how its influence on the force may alter in a few years.

Threat of New Entrants - ✔✔barriers of entry

  • economies of scale: refers to the decline in per unit product costs as the absolute volume of production per period increases
  • production differentiation: the extent of a product's perceived uniqueness
  • capital requirements: required investment for manufacturing, R&D, advertising, field sales and service
  • switching costs: the costs of changing suppliers or products
  • distribution channels: are there current distribution channels available with capacity?
  • government policy: are there regulations in place that restrict competitive entry
  • cost advantages independent of scale economies: is there access to raw materials, large pool of low-cost labour, favourable locations, and government subsidies
  • competitor response: how will the market react in anticipation of increased competition within a given market

The dimensions are grouped into seven environmental segments: - ✔✔1. Demographic

  1. Economic 3.Political / legal 4.Sociocultural 5.Technological 6.Global
  2. Sustainable physical environment The General Environment: Segments and Elements - ✔✔- Demographic segment
  • Economic segment
  • Political / Legal segment
  • Sociocultural segment
  • Technological segment
  • Global segment
  • Sustainable physical environment segment Demographic segment - ✔✔• Population size
  • Age structure
  • Geographic distribution
  • Ethnic mix
  • Income distribution Economic segment - ✔✔• Inflation rates
  • Interest rates
  • Trade deficits or surpluses
  • Budget deficits or surpluses
  • Personal savings rate
  • Business savings rates
  • Gross domestic product
  • Focus of private and government-supported research and development (R & D) expenditures
  • New communication technologies Global segment - ✔✔• Important political events
  • Critical global markets
  • Newly industrialized countries
  • Different cultural and institutional attributes Sustainable physical environment segment - ✔✔• Energy consumption
  • Practices used to develop energy sources
  • Renewable energy efforts
  • Minimizing a firm's environmental footprint
  • Availability of water as a resource
  • Producing environmentally friendly products
  • Reacting to natural or man-made disasters Industry Environment - ✔✔is a set of factors that directly influences a firm and its competitive actions and responses:
  • The threat of new entrants
  • The power of suppliers
  • The power of buyers
  • The threat of product substitutes
  • The intensity of rivalry among competing firms How companies gather and interpret information about their competitors is called - ✔✔competitor analysis
  • Understanding the firm's competitor environment complements the insights provided by studying the general and industry environments