When the price of beef skyrockets consumers switch to pork and chicken this demonstrates

Question 87

Multiple Choice

When the price of beef skyrockets, consumers switch to pork and chicken. This demonstrates ________.

A) the threat of new entrants
B) the threat of substitutes
C) the bargaining power of buyers
D) the bargaining power of suppliers

Correct Answer:

Tags

Choose question tag

10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes.

Explore This Quiz Learn More

Business

Explore our library and get Management Homework Help with various study sets and a huge amount of quizzes and questions

View All Business Study Sets

Related Questions

• Q82:

  Stars, one of the four business groups in the BCG matrix, are characterized by low growth and high market share.

• Q83:

  A turnaround strategy is a type of renewal strategy used when an organization is in serious trouble.

• Q84:

  The BCG matrix evaluates an organization's various businesses to identify which ones offer high potential and which ones drain organizational resources.

• Q85:

  A retrenchment strategy is a short-run renewal strategy that helps an organization stabilize operations, revitalize organizational resources and capabilities, and prepare to compete once again.

• Q86:

  List and discuss the three levels of strategy that a large organization must develop.

• Q88:

  Discuss the methods by which an organization grows. Give relevant examples.

• Q89:

  A cost leadership strategy requires a firm to ________. A) maintain the lowest cost structure B) maintain the lowest prices to its customers C) aim at a cost advantage in a niche market D) match its competition's prices

• Q90:

  A ________ describes how a business will compete in its primary market. A) mission statement B) corporate strategy C) competitive advantage D) competitive strategy

• Q91:

  When used to connect with customers or to connect employees with co-workers in other locations, social media ________. A) provide a means for customers to order products online B) create distractions that can keep employees from being productive C) provide information for competitors that give them a competitive advantage D) can create a competitive advantage

• Q92:

  A trucking company that grows by purchasing a chain of gasoline stations is engaged in horizontal integration.

Managing

Strategy – Seminar 1

Reviewing concepts

1.Describe the six steps in the strategic management process.

Click here to enter text.

2.What is the role of competitive advantage? Provide examples of the different types of competitive

advantage.

Click here to enter text.

Application of BCG (Boston Consulting Group) Framework

1.Boston Matrix

Product Market Growth RateMarket Share BCG product

Noodles 40%27%Click here to enter text.

Mineral water67%55%Click here to enter text.

Chocolates 32%13%Click here to enter text.

Baby milk51%64%Click here to enter text.

2.SWOT analysis

Read the following newspaper titles related to Tesco in the UK and tick the correct environment each

statement belongs to.

SWOT

1.Businesses Warn of Brexit Disaster For Exports

2.Tesco Employees Trainee Programme Praised by Prime Minister

3.Sales of Tesco Own Brand Products Down by 16%

4.Customers Switching to Sainsburys Due to Lack of Differentiation

5.UK Unemployment Rate Falls To Lowest Since 2006

6.Tesco Owns Many of Farms Supplying its Vegetables and Fruits

7.Climate Change Drives Food Prices Up

8.Apple Pay Makes Contactless Payment Easy

Multiple Choice Questions

Please answer the following questions.

The University of Sheffield International College – Business and Management

Effective from January 2016

1