11.) The co-opetition framework compliments the five forces model because a. It includes the positive effects that market participants might have on each others profitability b. It focuses on the competition of rival firms in the market c. It focuses on the trends in the macro-environmental dimensions d. All of the above e. None of the above

12.) A reason for segmenting a market is because a. Different customer segments tend to have different preferences b. Private and corporate customers may have different preferences c. Grouping all customers together in a market for analysis is not very useful d. All of the above e. None of the above

13.) Amys Winehouse is a fictional wine delivery app that offers home delivery for various wines and other alcoholic beverages in the low-price market of young customers (early 20s). In other words, they offer a selection of white, red, and ros wines among other products to a single market segment: young price-conscious consumers. Therefore, this target market selection could best be described as: a. Product specialization b. Full market coverage c. Market specialization d. Selective specialization e. Single-segment concentration

14.) Which one of the following statements is TRUE? a. The goal of strategy is to achieve sustainable competitive advantage over rivals and thereby to ensure lasting profitability. b. Strategy deals with a more limited formulation that affects just one activity at one point in time rather than all activities of a firm over an extended time horizon. c. Strategies are concerned with the short-term direction of the firm d. All of the above are true e. None of the above are true

15.) Frying Nemo (a fictional company) is a fish restaurant chain that is analyzing markets and has identified that the Chinese market has an increasing middle class and the salary of workers in the middle class is also increasing. Which macro-environmental dimension is BEST described by the identification of the market? a. The political environment b. The trend environment c. The economic environment d. The social environment e. The technological environment

16.) Companies that are able to align their strengths with the business opportunities and eliminate weaknesses in order to avoid threats create _________ between internal competencies and the external environment. a. a strategic fit b. SWOT analysis c. core competencies d. value chains e. sustainable competitive advantage

17.) You booked a hotel using a new application called Notels.com (a fictional company). However, there is an issue with the booking and you want to cancel it. You contact Notels.com and they solve your problem very quickly. You are very satisfied with the service interaction. You are satisfied because of which source of differentiation from Notels.com? a. Brand b. Product Range c. Reputation d. Intangible source e. Tangible source

18.) Lets say you wanted a flight ticket to go to New York and the average coach flight ticket is 1,500,000 won. Question Air (a fictional airline) sells its coach tickets for 1,500,000 won but sells its first class tickets on the same flight for 100,000,000 won. The services offered in first class would give you much more consumer benefit than any other competitors first class tickets, but the price is much higher than rivals. The reason you would most likely NOT buy the first class ticket is because it does not have _______ proximity to its competitors. a. unique b. benefit c. locational (i.e., spatial proximity) d. cost e. time

19.) Lets say you wanted a flight ticket to go to Amman, Jordan and the average coach flight ticket is 1,500,000 won. Air-Jordan (a fictional airline) sells its coach tickets for 1,500,000 won but sells its first class tickets on the same flight for 100,000,000 won. The services offered in first class would give you much more consumer benefit than any other competitors first class tickets, but the price is much higher than rivals. Which type of strategy option is Air-Jordan pursuing with its first class tickets? a. cost leadership strategy b. differentiated strategy c. competitive advantage strategy d. benefit proximity strategy e. cost proximity strategy

20.) Specs and the City (a fictional company) has been making eyeglasses (spectacles in British English) for decades. The CEO now wants to use their knowledge of producing eyeglasses and their existing logistical network and stores to expand the business into the fashion sunglasses market, because the CEO thinks they will be able to offer competitive prices in the new market. Specs and the Citys use of existing assets to expand their product offering is an example of a. Factor costs b. Learning effects c. Economies of scale d. Economies of scope e. None of the above