unit 9 exam revised

Question 1

Understand the industry life cycle and its phases.

Answer 1

Unit 9, page 6.

Question 2

STRATEGIES FOR COMPETING IN EMERGING INDUSTRIES.

Answer 2

Perfect the technology, improve product quality, and develop additional attractive performance features.

Be a fast mover in any possible way.

Make it easy and cheap for first-time buyers.

Question 3

STRATEGIES FOR COMPETING IN TURBULENT, HIGH-VELOCITY MARKETS.

Answer 3

Continuous and aggressive investment in R&D.

Develop the capacity and capability to respond to competitor moves.

Initiate fresh actions every few months.

Question 4

STRATEGIES FOR COMPETING IN MATURING
INDUSTRIES.

Answer 4

Get rid of slow-selling products.

Trim costs.

Increase sales to present customers.

Question 5

STRATEGIES FOR FIRMS IN STAGNANT OR DECLINING INDUSTRIES.

Answer 5

Drive costs down & become the industry’s low-cost leader.

Differentiate based on quality improvement and product innovation.

Pursue a focused strategy aimed at the fastest-growing market segments in the industry.

Question 6

STRATEGIES FOR COMPETING IN FRAGMENTED INDUSTRIES.

Answer 6

Achieve high productivity with low-cost labour.

Focus on one product, service category or customer type.

Question 7

STRATEGIES FOR INDUSTRY LEADERS.

Answer 7

Offensive strategy - BE A TRENDSETTER, force the competition to catch up.

Defensive strategy - Make it hard for entrants and challengers to enter the industry.