 Question 1

0 out of 1 points

The narrowest definition of competition that results in the fewest competitors that includes only

products or services of the same product types is called:

Correct  

Answer: product form competition.

Response Page Ref: 153

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 Question 2
0 out of 1 points

A market structure analysis is used to better understand the:

Correct  

Answer: competition.

Response Page Ref: 151

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 Question 3
1 out of 1 points

Analyzing the strengths and weaknesses of the competitors and their current and likely future

strategies is called:

Correct  

Answer: competitor analysis.

Response Page Ref: 152

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 Question 4
1 out of 1 points
 ________ was invented by John von Neumann and Oskar Morgenstern to account for the

interdependence of economic factors and it is a mathematical approach that is used to

anticipate a competitor's likely future strategies.

Correct  

Answer: Game theory

Response Page Ref: 168

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 Question 5
1 out of 1 points

When a marketing manager conducts a competitive assessment of his own business, which of

the following contains a summary of the different components of this analysis?

Correct  

Answer: a SWOT analysis

Response Page Ref: 166

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 Question 6
0 out of 1 points

Which of the following best describes a sophisticated, long-term version of the simulation

process?

Correct  

Answer: scenario planning

Response Page Ref: 167

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 Question 7
1 out of 1 points
 If a cross-elasticity with respect to price is positive then:

Correct  

Answer: a product's sales decline when another product's price drops.

Response Page Ref: 156

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 Question 8
0 out of 1 points

A kind of game in which competition leads to a less-than-optimum outcome for both managers,

is called:

Correct  

Answer: prisoner's dilemma game.

Response Page Ref: 173

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 Question 9
0 out of 1 points

________ is the percentage change in one product's sales due to a percentage change in a

marketing variable (such as price) for another product.

Correct  

Answer: Cross-elasticity

Response Page Ref: 156

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 Question 10
0 out of 1 points
The most common form of equilibrium used for solutions to game theory models is called:

Correct  

Answer: nash equilibrium.

Response Page Ref: 172

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Sunday, February 14, 2021 11:57:59 AM CST