BME 102 BSEn 2B

What is the term used to describe the process of designing products, goods, or services in order to gain a competitive edge by meeting customer demands?

• product differentiation

• customer needs

• business model

• business strategy

What is the term used to describe when companies establish networks of linked merchandise outlets that are interconnected by IT and function as one large company?

• chaining

• franchising

• horizontal merger

• joint venture

What is the term used to describe a merger between companies that manufacture similar types of products or operate in similar industries?

• vertical merger

• conglomerate merger

• market extension merger

• horizontal merger

Which type of industry is characterized by a large number of small- and medium-sized companies, such as funeral services and RTW stores?

• Fragmented industry

• oligopoly

• monopoly

• consolidated industry

What is the term used when the parent company allows franchisees to utilize its name, reputation, and business model in a specific location for a fee?

• franchising

• chaining

• merger

• business model

What strategy that aims at growing in a declining industry by picking up the market share of companies that are leaving the industry?

• leadership strategy

• niche strategy

• harvest strategy

• divestment strategy

What strategy that requires the company to cut all new investments in capital equipment, advertising, R&D, and the like?

• harvest strategy

• niche strategy

• divestment strategy

• leadership strategy

What strategy focuses on pockets of demand in the industry in which demand is stable or declining less rapidly than the industry as a whole?

• niche strategy

• leadership strategy

• harvest industry

• divestment industry

What strategy that rest on the idea of selling an underperforming business before the industry enters into a steep decline?

• divestment strategy

• niche strategy

• harvest strategy

• leadership strategy

Who are the group of customers to first enter the market which are also referred to as technocrats?

• innovators

• early adopters

• early majority

• laggards