Hill SM TB CH 06

1. A fragmented industry is composed of a large number of small and medium-sized companies.
a. True
b. False
ANSWER: True
POINTS: I
DIFFICULTY: Easy
LEARNING OBJECTIVES: SM IA.HILL.l5.06.01- Identify the strategies managers can develop to increase
profitability in fragmented industries
NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic
KEYWORDS: Bloom's: Knowledge
2. Fragmented industries typically have high barriers to entry.

a. True
b. False
ANSWER: False
POINTS: I
DIFFICULTY: Easy
3. By their choices of competitive actions and decisions about product attributes, managers can speed up or slow down
the rate of progress of an industry through the stages of the industry life cycle.
a. True
b. False
ANSWER: True
POINTS: I
DIFFICULTY: Moderate
KEYWORDS: Bloom's: Comprehension
4. Relish Inc. created the first national chain of fast-food restaurants in a previously fragmented industry. This is called
divestment.
a. True
b. False
ANSWER: True
POINTS: 1
LEARNING OBJECTIVES: SMIA.HILL.15.06.01- Identify the strategies managers can develop to increase
NATIONAL STANDARDS: United States- BUSPROG: Analytic
KEYWORDS: Bloom's: Application
5. The franchisor typically owns and funds each of its franchisees.

a. True
b. False
ANSWER: False
POINTS: 1
6. Alpha corporation owns and controls several retail outlets and is thus pursuing a strategy called franchising.
a. True
b. False
ANSWER: False
POINTS: 1
7. Through chaining, companies increase their buying power, which allows them to negotiate large price reductions with
their suppliers, which in tum promotes their competitive advantage.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
8. Franchisees essentially pursue independent strategies and do not use the business model of the franchisor.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
9. The challenge in a fragmented industry is to figure out the best set of strategies to overcome a fragmented market so
that the competitive advantages associated with pursuing one of the different business models can be realized.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
10. A new product's relative advantage refers to the degree to which a new product is perceived as better at satisfying
customer needs than the product that it supersedes.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: SMIA.HILL.l5.06.02- Discuss the special problems that exist in embryonic and
growth industries and how companies can develop strategies to effectively compete
11. One characteristic of embryonic industries is poorly developed distribution channels.

a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
12. Development of a mass market is the stimulus for an industry to change from growth to embryonic.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
13. Both innovators and early adopters enter the market while the industry is in its embryonic stage.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
14. Early adopters are customers who purchase a new technology or product only when they are convinced that it will
be around for a long time.
a. True
b. False
ANSWER: False
POINTS: 1
LEARNING OBJECTIVES: SMIA.HILL.l5.06.01- Identify the strategies managers can develop to increase
15. Different strategies are often required to support and strengthen a company's business model as a market develops
over time.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
16. The "late majority" are typically reached through specialized distribution channels, and products are often sold by
word of mouth.
a. True
b. False
ANSWER: False
POINTS: 1
17. Laggards are the customers who are the first ones to try and adopt a new technology.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Challenging
18. Horizontal mergers often lead to industry fragmentation.

a. True
b. False
ANSWER: False
POINTS: 1
19. Innovators and early adopters have very different customer needs from the early majority.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
20. Laggards are technologically sophisticated customers willing to tolerate the limitations of the product.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
21. Formal price leadership, or when companies jointly set prices, is illegal under antitrust laws.
a. True
b. False
ANSWER: True
POINTS: I
DIFFICULTY: Easy
LEARNING OBJECTIVES: SMIA.HILL.l5.06.03 -Understand competitive dynamics in mature industries and

discuss the strategies managers can develop to increase profitability even when
competition is intense
22. The goal for companies in the growth stage of the industry life cycle is to maintain its relative competitive position in
a rapidly expanding market.
a. True
b. False
ANSWER: True
POINTS: I
23. In the embryonic stage of the industry life cycle, a company's investment needs and production costs are low.
a. True
b. False
ANSWER: False
POINTS: I
DIFFICULTY: Easy
24. Product proliferation often results in lowering of entry barriers in a mature industry.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: SMIA.HILL.15.06.03 -Understand competitive dynamics in mature industries and

25. Product proliferation refers to the strategy of filling the niches by catering to the needs of customers in all market
segments.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy

26. Market penetration involves the creation of new and innovative products to replace existing ones.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy

27. A limit price strategy involves charging a price that is lower than that required to maximize profits in the short run,
but is above the cost structure of potential entrants.
a. True
b. False
ANSWER: True
POINTS: 1

28. Market development strategy involves fmding new market segments for a company's products.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy

29. A divestment strategy aims at growing in a declining industry by picking up the market share of companies that are
leaving the industry.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
LEARNING OBJECTIVES: SMIA.HILL.15.06.04- Outline the different strategies that companies in declining
industries can use to support their business models and profitability
30. A divestment strategy's success is often dependent upon good timing.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
31. A harvest strategy requires the company to halt all new investments in capital equipment, advertising, research and
development, and so forth.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
32. A fragmented industry is one composed of a:

a. single large company that has the power to determine prices.
b. large companies and their subsidiaries.
c. large number of small and medium-sized fmns.
d. companies that operate in different locations across the world.
e. a small number of single proprietorships.
ANSWER: c
POINTS: 1
DIFFICULTY: Easy
33. The real estate industry comprises different kinds of firms in several locations. Some are independent and popular
locally while the others are affiliated to national chains. The real estate industry is most likely to be a(n):
a. fragmented industry.
b. oligopolies industry.
c. pure competition industry.
d. consolidated industry.
e. monopoly.
ANSWER: a POINTS:
I
34. Which of the following is not a characteristic of a fragmented industry?

a. Low barriers to entry
b. Diseconomies of scale
c. Brand loyalty in the industry that may primarily be local
d. Very specialized customer needs
e. Large mass-production operation
ANSWER: e
POINTS: I
35. Which of the following statements is true about fragmented industries?

a. They are usually characterized by large mass-production operations.
b. They essentially enjoy a national brand loyalty.
c. They require companies to use focus strategies because of specialized customer needs.
d. They do not attract new entrants as they have extremely high entry barriers due to economies of scale.
e. They are usually dominated by one or two large companies that enjoy the power to influence industry prices.
ANSWER: c
POINTS: I
36. Firms sometimes pursue a chaining strategy to:
a. obtain the advantages of cost leadership.
b. create product diversity.
c. generate revenue by licensing the patents it owns.
d. spread overhead costs.
e. establish a number of unrelated business units.
ANSWER: a
POINTS: I
37. Which of the following is an advantage of franchising?

a. It gives the franchisor the same level of tight control over franchisees as does chaining.
b. It allows the franchisor to obtain the entire profits made by franchisees.
c. It is beneficial for franchisees as they do not have to face the challenge of higher capital costs.
d. It helps the franchisees by relieving them of the responsibility of running operations.
e. It can help the franchisor expand his or her business rapidly.
ANSWER: e
POINTS: I
38. Which of the following is a disadvantage of franchising?

a. It restricts the franchisor from expanding.
b. It results in the franchisor taking all the financial burden of the franchisees.
c. It results in the delegation of authority to franchisees and thus, the franchisor may not enjoy complete control.
d. It does not provide sufficient incentive to the franchisees to run operations effectively as the franchisees are
not entrepreneurs.
e. It requires the franchisees to create a new business model and plan strategies.
ANSWER: c
POINTS: I
39. Which of the following statements is true about horizontal mergers?
a. Horizontal mergers result from an intention to achieve economies of scale.
b. Horizontal mergers result in the fragmentation of the industry.
c. Horizontal mergers has been a very successful concept so far with zero cases of failure.
d. Companies that establish a network of linked merchandising outlets to obtain advantages of cost leadership
are known as horizontal mergers.
e. Companies that adopt the strategy of centralization to gain control over all business units are known as
horizontal mergers.
ANSWER: a
POINTS: I
DIFFICULTY: Easy
40. To compete in the fragmented restaurant industry, Red Lobster Corporation built, and now operates hundreds of
stores across the United States and Canada. Which of the following strategies is Red Lobster using ?
a. Acquisitions
b. Horizontal mergers
c. Franchising
d. Licensing
e. Chaining
ANSWER: e POINTS:
I
41. A company uses when it focuses on pockets of demand that are declining more slowly than the industry as a
whole to maintain profitability.
a. acquisition strategy
b. chaining
c. divestment strategy
d. niche strategy
e. franchising
ANSWER: d
POINTS: I
LEARNING OBJECTIVES: SMIA.HILL.l5.06.04- Outline the different strategies that companies in declining
42. One strategy used to consolidate fragmented industries is:

a. vertical mergers.
b. chaining.
c. product proliferation.
d. price signaling.
e. nonprice competition.
ANSWER: b
POINTS: I
DIFFICULTY: Easy
43. In a bid to expand its business and gain cost advantages, Omega Inc. has established several merchandising outlets
in different locations. All the outlets share a good network and are interconnected by information technology. The
entire network of outlets operates in the industry as one large company. Which of the following strategies has
Omega Inc. most likely used ?
a. Chaining
b. Franchising
c. Horizontal merger
d. Niche strategy
e. Divestment strategy
ANSWER: a
POINTS: 1
LEARNING OBJECTIVES: SM IA.HILL.15.06.01- Identify the strategies managers can develop to increase
44. Hydralicious, a juice parlor, has been looking to expand its business. The company has given a few entrepreneurs in
different locations the license to operate under its name.The entrepreneurs are given the permission to use the
company's reputation and the business model to run operations. The entrepreneurs will be charged a fee but will also
get a percentage of the profits made. Which of the following strategies is Hydralicious most likely to be using ?
a. Chaining
b. Horizontal merger
c. Vertical merger
d. Franchising
e. Centralization
ANSWER: d
POINTS: 1
LEARNING OBJECTIVES: SM IA.HILL.15.06.01- Identify the strategies managers can develop to increase
45. An embryonic industry is one that:
a. a number of small and medium sized companies.
b. is just beginning to develop.
c. has sufficiently developed so that early industry leaders have already been identified.
d. has initial government backing because of its importance to the general populace.
e. is characterized by intense rivalry among established companies.
ANSWER: b
POINTS: I
DIFFICULTY: Easy
46. Most embryonic industries arise from:

a. a technological breakthrough.
b. product proliferation.
c. lack of high entry barriers.
d. chaining.
e. franchising.
ANSWER: a
POINTS: I
NATIONAL STANDARDS: United States- BUSPROG: Technology
47. Which of the following statements is true in the context of embryonic industries?
a. They are characterized by very a high initial customer demand.
b. They are characterized by well-developed distribution channels.
c. They involve low production costs because of large volumes of production.
d. They face the challenge of customers not being familiar with product benefits.
e. They enjoy the abundance of complementary products that help increase sales.
ANSWER: d
POINTS: I
48. An industry moves from embryonic to growth stage when:
a. the sales of complementary products decline.
b. the production costs increase.
c. companies manufacture products in very small quantities.
d. ongoing technological progress makes its product easier to use.
e. mass markets for its products decline.
ANSWER: d
POINTS: I
49. The first group of customers to enter the market for a new product are called:
a. laggards.
b. late majority.
c. innovators.
d. early majority.
e. passive shoppers.
ANSWER: c
POINTS: I
DIFFICULTY: Easy
50. Factors leading to the slow growth of demand in embryonic industries include all of the following except the:
a. poor quality of the first products.
b. lack of complementary products.
c. customer familiarity with products.
d. high production costs of the products.
e. lack of distribution channels for the products.
ANSWER: c
POINTS: I
51. Customers who have a practical interest in using a new technology in the future and who are willing to experiment
and envision new uses for the technology are called:
a. early adopters.
b. the early majority.
c. innovators.
d. laggards.
e. the late majority.
ANSWER: a
POINTS: I
DIFFICULTY: Easy
52. Which of the following customer groups represents the leading wave or edge of the mass market?
a. Early adopters
b. Early majority c.
Innovators
d. Late majority
e. Laggards
ANSWER: b
POINTS: I
DIFFICULTY: Easy
53. The growth stage of an industry's life cycle is the:

a. time when companies attempt to secure their grip over customers in existing market segments.
b. time when customers start exiting the markets.
c. time to plan an exit strategy.
d. opportunity to reduce investment in a product.
e. phase when the demand for products is low because of customers not being familiar with the product.
ANSWER: a
POINTS: I
54. Which of the following factors of a particular product tends to accelerate customer demand for it?
a. High observability
b. Minimum relative advantage
c. High complexity
d. Minimal value
e. Low trialability
ANSWER: a
POINTS: I
DIFFICULTY: Easy
55. In a harvest strategy, a company:

a. significantly increases its investment in a business.
b. extracts maximum profits from its investments.
c. ventures into new market segments with new products.
d. expands the number of stores or properties.
e. significantly increases advertising expenditure.
ANSWER: b
POINTS: I
56. Who among the following is most likely to fall under the category of laggards in the context of customer groups?
a. Martha is tech-savvy and tends to actively seek out for new and innovative products in the market.
b. Philip appreciates technology but tends to refrain from trying products that are extremely new.
c. Allan is ignorant about the newest uses of technology and buys new products only when they become an
absolute necessity.
d. Rebecca is aware about the value that technology offers; she tends to weigh costs and benefits of a product
before making a buying decision.
e. Arnold tends to be a little apprehensive about buying new technology but buys nevertheless when he observes
that a lot of people are using the new technology.
ANSWER: c
POINTS: I
57. Which of the following factors that affect market growth rates refers to the degree to which a new product is
perceived as better at satisfying customer needs than the product it supersedes?
a. Complexity
b. Relative advantage
c. Compatibility
d. Trialability
e. Observability
ANSWER: b
POINTS: I
58. Which of the following factors that affect market growth rates refers to the degree to which a new product is
perceived as difficult to understand and use?
a. Complexity
c. Compatibility
d. Trialability
e. Observability
ANSWER: a
POINTS: I
DIFFICULTY: Easy
59. Which of the following factors that affect market growth rates refers to the degree to which the results of using and
enjoying a new product can be seen and appreciated by other people?
a. Complexity
c. Compatibility
d. Trialability
e. Observability
ANSWER: e
POINTS: I
DIFFICULTY: Easy
60. Which of the following statements is true about customer categories in the context of growing industries?
a. Laggards frequently adopt new products even when the benefits are not obvious.
b. Innovators are the customers who are the last ones to adopt a new product.
c. A typical late majority customer group is a behaviorally conservative set of customers.
d. Customers in the early majority generally do not understand the value of new technology.
e. Laggards form the leading wave or edge of the mass market.
ANSWER: c
POINTS: 1
LEARNING OBJECTIVES: SMIA.HILL.15.06.02- Discuss the special problems that exist in embryonic and
61. Which of the following statements is true in the context of growing industries?
a. Innovators and early adopters have the same customer needs as the early majority.
b. Innovators and early adopters are typically reached through specialized distribution channels.
c. Reaching the early majority seldom requires advertising and is usually achieved through word of mouth.
d. Companies serving innovators need to have large-scale mass production and very low prices.
e. Companies competing in an embryonic market typically pay more attention to increasing the reliability of a
product than to its performance.
ANSWER: b
POINTS: 1

62. John, a technology enthusiast, is often willing to pay premium prices to be one among those who have new versions
of software packages. John most likely belongs to the group of customers.
a. laggard
b. early majority
c. early adopter
d. late majority
e. innovator
ANSWER: e
POINTS: 1
LEARNING OBJECTIVES: SMIA.HILL.15.06.02- Discuss the special problems that exist in embryonic and
63. Thomas tends to be ignorant about technological advancements. He was reluctant to own a smartphone even when
they were well-established and familiar in the market. However, Thomas slowly got used to the idea of a
smartphone when his job demanded him to be connected to the office network all the time. Thomas is most likely to
fall under which of the following categories of customers?
a. Early majority
b. Late majority
c. Laggards
d. Early adopters
e. Innovators
ANSWER: c POINTS:
I
64. Gadgetbug, an electronic gadgets company, has established itself as one of the industry leaders. The company
recently has been facing some amount of competition from certain new entrants. The new entrants offer gadgets in
different colors and with interesting artwork embossed. Recognizing that there is a special market for gadgets that
are designed uniquely, Gadgetbug has now introduced its own range of uniquely designed gadgets. In this scenario,
Gadgetbug's attempt to cater to all the different segments of customers to deter competition demonstrates:
a. price signaling
b. product proliferation
c. harvest strategy
d. limit price strategy
e. diseconomies of scale
ANSWER: b
POINTS: I

65. Which of the following shakeout strategies requires a company to limit or decrease its investment in a business and
to extract, or milk, the investment as much as it can?
a. Market concentration strategy
b. Share-increasing strategy
c. Cost-leadership strategy
d. Hold-and-maintain strategy
e. Harvest strategy
ANSWER: e
POINTS: I
66. Highest market demand and industry profits arise when:

a. early adopters leave the market.
b. innovators and early adopters enter the market.
c. when laggards and late majority leave the market.
d. early and late majority users enter the market.
e. when the production costs become high.
ANSWER: d
POINTS: I
DIFFICULTY: Easy
67. Nutrimax Corp., a breakfast cereal company, has designed extensive and elaborate advertising campaigns for its
existing products. The campaigns mainly focus on the aspects and benefits of the products that make them better
than other products. The massive advertising and marketing initiatives are also intended to intimidate new entrants
and rivals. Nutrimax Corp. is most likely to be using which of the following strategies?
a. Market penetration
b. Product development c.
Product proliferation d.
Market development e.
Capacity control
ANSWER: a
POINTS: I

68. Which of the following factors in an industry is most likely to cause excess capacity?
a. Technologically outdated production units
b. High customer demand
c. Increasing age of a company's physical assets
d. Lack of competition from new entrants
e. Limited number of outlets in certain locations
ANSWER: c
POINTS: I

69. Price signaling in the context of mature industries happens when:
a. the government intervenes to regnlate prices of products.
b. companies decide to invest in slow-growing markets.
c. companies decide to sell its patents to generate revenue.
d. companies increase or decrease product prices to convey their intentions to other companies.
e. a company concentrates on expanding market share in its existing product markets.
ANSWER: d
POINTS: 1
DIFFICULTY: Easy

70. Mature industries are generally characterized by:

a. low entry barriers.
b. diseconomies of scale.
c. absence oflarge-scale production.
d. a small number of large firms.
e. very low customer demand.
ANSWER: d
POINTS: 1
DIFFICULTY: Easy

71. Which of the following strategies allows interdependent fmns indirectly to coordinate their actions?
a. Market development
b. Harvest strategy
c. Divestment strategy
d. Price signaling
e. Market penetration
ANSWER: d
POINTS: 1

72. Which of the following strategies helps companies with high cost strnctures, allowing them to survive without having
to implement strategies to become more productive and efficient?
a. Price signaling
b. Nonprice competition
c. Capacity control
d. Market development
e. Price leadership
ANSWER: e
POINTS: I
DIFFICULTY: Easy

73. A telecommunications firm is working on new product concept of built-in routers in mobile phones. If the new
product will be sold to existing customers, the finn is pursuing a strategy of:
a. product development.
b. market penetration.
c. product proliferation.
d. market signaling.
e. market development
ANSWER: a
POINTS: I

74. Which of the following statements is true in the context of declining industries?
a. Not all segments of an industry typically decline at the same rate.
b. A declining industry should ideally use the leadership strategy when it does not have any strengths and the
competition is low.
c. Divestment strategy is by which a declining industry seeks to improve sales by improving product quality.
d. Greater the exit barriers of a declining industry, lesser is the intensity of competition.
e. Intensity of competition is less in declining industries that sell commodity-like products.
ANSWER: a
POINTS: I
75. A strategy aims at growing in a declining industry by picking up the market share of companies that are
leaving the industry.
a. divestment
b. harvest
c. price signaling
d. leadership
e. capacity control
ANSWER: d
POINTS: I
DIFFICULTY: Easy
76. When a company decides to exit an industry by selling off its business assets to another company, it is said to be
using a(n) strategy.
a. market penetration
b. divestment
c. niche
d. downsizing
e. outsourcing
ANSWER: b
POINTS: I
77. In deciding on a strategy, a company in a declining industry must do all of the following except
a. lower prices.
b. manage industry capacity.
c. evaluate its strengths relative to the remaining pockets of demand.
d. evaluate the severity of decline.
e. monitor its cash flow.
ANSWER: a
POINTS: I
78. Competitive intensity in a declining industry is greatest when:

a. the industry is declining slowly instead of rapidly.
b. the product is easy to differentiate.
c. exit barriers are high.
d. entry barriers are high.
e. technology is stable.
ANSWER: c
POINTS: I
79. Music CDs and newspaper sales have been falling as users tum to the Internet for their music and news. Which of
the following is NOT a strategy for companies in these declining industries?
a. Leadership
b. Chaining
c. Niche
d. Divestment
e. Harvest
ANSWER: b POINTS:
I
80. In his book Crossing the Chasm. Geoffrey Moore discusses some of the issues involved in marketing
technologically new products as markets develop through different stages. What groups does Moore identify and
what must companies do if they are to successfully cross the chasm?
ANSWER: Moore's thesis is that different groups of customers enter the market for
technologically new products at different times. And to appeal to these groups,
companies must adopt business models and strategies that are appropriate given the
stage of industry development and who is purchasing the company's products.
The first group to enter the market is innovators. Innovators are technocrats who enjoy
and appreciate the new technology for its own sake. They are not very price sensitive.
The next group to enter the market is the early adopters. Early adopters realize the
potential of the new technology to improve their own business models and are willing to
experiment with it. These buyers are not very price sensitive either.
The third group to enter the market is the early majority. This is the leading wave of
the mass market, and the gap between the early adopters and early majority is the
chasm. Companies must use a business model to appeal to these buyers and satisfy the
growing demand. These buyers tend to be comfortable with technology, but it has to be
cost-effective.
The fourth group to enter the market is the late majority. These buyers adopt the new
technology because they are convinced it will be somewhat enduring. They tend to be
price sensitive. The entry of this group signals the end of the growth stage.
The last group to enter is the laggards. These are the buyers that are often considered
to be technophohie.
Innovators and early adopters are often reached through specialized distribution
channels, and word of mouth is very important in the buying decision. Reaching the
early majority requires mass-market distribution channels and advertising campaigns
that require a different set of marketing and sales strategies. Companies that cannot
adapt their business models fall into the chasm and often go out of business.
POINTS: I
KEYWORDS: Bloom's: Synthesis

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1. A fragmented industry is composed of a large number of small and medium-sized companies.

2. Fragmented industries typically have high barriers to entry.

5. The franchisor typically owns and funds each of its franchisees.

11. One characteristic of embryonic industries is poorly developed distribution channels.

18. Horizontal mergers often lead to industry fragmentation.

LEARNING OBJECTIVES: SMIA.HILL.l5.06.03 -Understand competitive dynamics in mature industries and

LEARNING OBJECTIVES: SMIA.HILL.15.06.03 -Understand competitive dynamics in mature industries and

LEARNING OBJECTIVES: SMIA.HILL.15.06.03 -Understand competitive dynamics in mature industries and

LEARNING OBJECTIVES: SMIA.HILL.15.06.03 -Understand competitive dynamics in mature industries and

LEARNING OBJECTIVES: SMIA.HILL.15.06.03 -Understand competitive dynamics in mature industries and

LEARNING OBJECTIVES: SMIA.HILL.15.06.03 -Understand competitive dynamics in mature industries and

32. A fragmented industry is one composed of a:

34. Which of the following is not a characteristic of a fragmented industry?

35. Which of the following statements is true about fragmented industries?

37. Which of the following is an advantage of franchising?

38. Which of the following is a disadvantage of franchising?

42. One strategy used to consolidate fragmented industries is:

46. Most embryonic industries arise from:

53. The growth stage of an industry's life cycle is the:

55. In a harvest strategy, a company:

LEARNING OBJECTIVES: SMIA.HILL.15.06.03 -Understand competitive dynamics in mature industries and

LEARNING OBJECTIVES: SMIA.HILL.l5.06.03 -Understand competitive dynamics in mature industries and

66. Highest market demand and industry profits arise when:

LEARNING OBJECTIVES: SMIA.HILL.l5.06.03 -Understand competitive dynamics in mature industries and

LEARNING OBJECTIVES: SMIA.HILL.l5.06.03 -Understand competitive dynamics in mature industries and

LEARNING OBJECTIVES: SMIA.HILL.15.06.03 -Understand competitive dynamics in mature industries and

70. Mature industries are generally characterized by:

LEARNING OBJECTIVES: SMIA.HILL.15.06.03 -Understand competitive dynamics in mature industries and

LEARNING OBJECTIVES: SMIA.HILL.15.06.03 -Understand competitive dynamics in mature industries and

LEARNING OBJECTIVES: SMIA.HILL.l5.06.03 -Understand competitive dynamics in mature industries and

LEARNING OBJECTIVES: SMIA.HILL.l5.06.03 -Understand competitive dynamics in mature industries and

78. Competitive intensity in a declining industry is greatest when:

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