Description
Small Business An Entrepreneurs Plan 6th Edition By Ron Knowles – Test Bank
Chapter 5-Learning from the Competition: Your Competitive Intelligence
MULTIPLE CHOICE
1. Which of the following best identifies the stage of the competition life cycle in which pricing is experimental?
|
a. |
decline |
|
b. |
mature |
|
c. |
embryonic |
|
d. |
growth |
ANS: C
PTS: 1
REF: p.119
2. Which of the following involves visiting customers and analyzing their perception of the competition?
|
a. |
competitive segmentation |
|
b. |
primary research |
|
c. |
secondary research |
|
d. |
competitive mapping |
ANS: B
PTS: 1
REF: p.103
3. Which of the following best defines the unique features that attract customers and encourage customer loyalty?
|
a. |
core competency |
|
b. |
unique selling point |
|
c. |
unique selling feature |
|
d. |
distinctive competency |
ANS: D
PTS: 1
REF: p.109
4. Which of the following best identifies how the cost leadership strategy successfully competes?
|
a. |
developing and maintaining a unique perception of its product/service |
|
b. |
being the low-cost producer or service provider |
|
c. |
carving out a specific/narrow segment of the market |
|
d. |
providing a niche product/service at the lowest cost possible |
ANS: B
PTS: 1
REF: p.113
5. Which of the following describes the competitive intelligence process of gathering together a small number of customers for a “group think” about your potential competitors?
|
a. |
touchpoint analysis |
|
b. |
SWOT analysis |
|
c. |
competitive test matrix |
|
d. |
secondary research |
ANS: A
PTS: 1
REF: p.107
6. Which of the following describes the competitive intelligence process of analyzing customers’ perceptions of the competition in order to find out what benefits and features are important to them?
|
a. |
SWOT analysis |
|
b. |
customer analysis |
|
c. |
touchpoint analysis |
|
d. |
benefit analysis |
ANS: C
PTS: 1
REF: p.107
7. Which of the following describes the business arena when it is in the embryonic stage?
|
a. |
saturated |
|
b. |
highly competitive |
|
c. |
relatively empty |
|
d. |
status quo |
ANS: C
PTS: 1
REF: p.117
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