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Exam 8: Entrepreneurial Strategy and Competitive Dynamics

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Question 51

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Seeking products or services that have been successful in one market and introducing the same basic product or service in another segment of the market is referred to as _____________ new entry.

A) adaptive
B) imitative
C) proactive
D) pioneering

E) A) and D)
F) B) and C)

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Question 52

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In the Model of Competitive Dynamics,Exhibit 8.4 in the textbook,motivation and capability to respond is one of the reasons companies launch competitive challenges.The Toyota Prius offer set off the competitive dynamic cycle for more fuel-efficient automobiles.

A) True
B) False

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Question 53

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Refinements or extensions of existing strategies are often referred to as tactical actions.

Rocket Internet,founded in 2007,funds start-ups.One of its successful investments was in Lamoda,a retailing fashion site in Russia that is modeled after Zappos.This is an example of a pioneering new entry strategy.

______________ provide(s) a key avenue for growth for many young and small firms through partnering to obtain resources and to expand into new markets.

If similar competitors vie for the same customers in a marketplace,they are likely to escalate their competitive strategy through a reactive series of actions and responses.

When a company chooses to use guerilla marketing,it is using a ________________ competitive action.

A firm is considering a large price cut on its leading product as a way to gain market share.One executive strongly disagrees with the price cut.He observes that they are in the same marketplace as their rivals and do not have any competitive advantages in their cost structure.If they cut prices,their competitors will likely do the same.The end result is that everyone will make less money.These arguments are an example of a

Tom Monahan,a business creativity coach,says that every new idea is merely a spin of an old idea.A company that enters the market by offering a product or service that is somewhat new and sufficiently different in order to create value for customers by capitalizing on current trends is using which new entry strategy?

The Wall Street Journal and The New York Times have seen the intensity of their rivalry increase.One factor driving this is that The Wall Street Journal has moved from financial news reporting to general national and global news reporting and finally,to adding local New York news.The rivalry of these two news providers has increased due to

Several arena factors make it more difficult for new ventures to be successful as differentiators.Examples include innovation,technology,customer service,and distinctive branding.

Vision is an important element of entrepreneurial leadership because

According to a study by the Kaufmann Foundation,which of the following is the largest source of funding for businesses that have been operating at least five years?

Few start-ups enter industries that are mature.

Entrepreneurial new entry is often perceived as a competitive threat because most market needs are being met,either directly or indirectly,by an existing firm.

Because new ventures typically are small,they usually do not have high economies of scale relative to competitors.

According to the text,which of the following does not make it difficult for entrepreneurial firms to effectively pursue a strategy of differentiation?

Choosing which new entry strategy is best depends on competitive financial and marketplace considerations.The greatest opportunities most likely will be in existing markets,rather than in new markets.

The new entry strategy that a firm chooses is dependent upon the ______________ and the ______________ of the new business concept.

New entry into markets,whether by start-ups or by incumbent firms,rarely threatens existing competitors.