Section A: Multiple Choice Questions $(40$ Points$)$

Which of the following tools can be used to analyze the structure of the industry an

agribusiness operates in$?$

a$.$ The $4$ P$\text{'}$s

b$.$ Balanced scorecard

c$.$ CR$-4$

d$.$ VRIO framework

Which of the following describes a firm with a price$/$cost strategy?

a$.$ Sells products with large profit margins

b$.$ Offers goods with the highest quality to a broad market

c$.$ Attracts price sensitive customers

d$.$ Charges premium prices for their products

Marketing and strategic management are components of which function of

management?

a$.$ Planning

b$.$ Organizing

c$.$ Controlling

d$.$ Directing

The buying and selling functions of marketing overcome the ownership barrier of

consumer satisfaction by providing the customer with

utility.

a$.$ Time

b$.$ Possession

c$.$ Place

d$.$ Form

An agribusiness can be involved in which of the following stages of the agri$-$food

system?

a$.$ Input supplier

b$.$ Commodity processor

c$.$ Food manufacturer

d$.$ All of the above

Which of the following statements would indicate that the threat of supplier power

in an industry is high?

a$.$ Input is essential for the production process

b$.$ Many substitutes for input supplied

c$.$ The firm is a major customer of the supplier

d$.$ Cheap to switch suppliers