Flashcards in ch3 Deck (10):
The bargaining power of new entrants is one of the competitive forces identified by Porter.
Ford Automobiles’ contract with Goodyear for tires is a strong example of the bargaining power of customers
Beth goes into restaurant and asks for a soda. They offer to serve her another brand instead. This is an example of the threat of substitutions.
A pharmaceutical company that marketed a drug for a rare disease would be an example of a company that was providing product differentiation within an industry.
Inbound and outbound logistics are examples of support activities in Porter's Value Chain.
Accounting functions like accounts receivables would be an example of supporting activities in Porter’s value chain model.
A manufacturing process transforms finished goods into cash.
A key competitive advantage is increasing margins by streamlining processes
Monty has decided to rent out only luxury cars, which is a differentiation strategy