For Practice only:

Match the following terms with the correct definition Barrier to entry Oligopoly Strategic fit 4 v key success factors Network externalities 1. A disadvantage that new entrants face relative to established firms A firm's decisions and resource allocation regarding the scope of its activities 2 le, where to compete which industries, which national markets, etc.) Afirm's decisions regarding how it competes within a particular industry or 3 market (AKA competitive strategy) A phenomenon that arises when the value of a product to a user depends on the number of other users of the product. 5. An impediment that prevents excess capacity from leaving an industry 6. An industry dominated by a small number of companies 7. The consistency of a firm's strategy with its internal and external environments 8. The primary dimensions within an industry that influence a firm's ability to outperform rivals The process of disaggregating industries and markets into more narrowly 9. defined sub-markets based on products characteristics, customer characteristics, or geography The value that a consumer receives from a good or service, minus the price that they paid v Barrier to exit Business strategy Corporate strategy Segmentation Consumer suprlus 10