The strategically relevant factors outside a company's industry boundaries-economic conditions, politicalfactors, sociocultural forces, technological factors, environmental factors, and legal/regulatory conditions-are known as○ the competitive market environment that exists between a company and its competitors.O the industry and the competitive arena in which the company operates.O the dominant economic features of a company's industry.○ general economic conditions plus the factors driving change in the markets where a company operates.O a company's macro-environment. Winning a sustainable competitive edge over competitors does not hinge on which of the following?○ having hard-to-beat capabilities and impressive product innovation○ building products and distributing them at low prices to a broad customer base irrespective of manufacturing cost○ having a distinctive competitive product offering○ building competitively valuable expertise and capabilities not readily matched and offering distinctive products○ building experience, know-how, and specialized capabilities that have been perfected over a long period of time

The correct answer is : a company's macro-environment. The term "company's macro-environment" refers…

Answered: The strategically relevant factors…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Identify the correct option in each of the following statements below. Write down only the correct answer. 1) The (micro-environment / market environment) refers to the forces outside the business, such as consumers, competitors and suppliers. This environment can be influenced or partially controlled by management. 2) A (marketing mix/ marketing objective) can be defined as something the organisation wants to achieve over a set period of time.3) (Reseller / Consumer) markets refer to individuals and households who buy goods and services for personal consumption. 4) The interest rate in a country, which is an example of the (political / economic) environment, has a direct influence on consumer prices and spending. 5) (Strategic Marketing / Environmental scanning) is the careful gathering, processing, analysing and interpreting of an organisation’s internal and external environments to reveal tactical or strategic opportunities, threats, strengths and weaknesses and to determine how…
2. The macro-level analyses of markets and industries mainly focus upon: Select one: O a. D. channels of distribution related to company. O b. B. environmental conditions affecting the market. O c. A. individuals in a market or industry. O d. C. specific target customers and companies.
Which marketing orientation would be suitable for a business environment that lacks competition? O A. sales orientation OB. societal marketing orientation. O C. market orientation O D. profitability orientation O E. production orientation
When developing your business strategy and want to enter a new market, you alwaysanalyze the following business threats that might negatively impact your business? [more than one answer) a) New competitors in the marketb) New product in the market22, c)Customers' influenced) Your time management
Massam works for a company that is having a hard time competing in the market. Massam really wants to stand out within his organization to further his career in marketing. Which strategy should Massam pursue to better understand the external environment around his company? O Massam should study and analyze the competition to understand how his company differs from everyone else so that he can pinpoint the fallout of his company. O b. Massam should study and analyze the technological environment that is used to understand how his company differs from everyone else so that he can pinpoint the fallout of his company. O Massam should study and analyze the consumer to understand how his company differs from everyone else so that he can pinpoint the fallout of his company Od. Massam should study and analyze the social environment that is used to understand how his company differs from everyone else so that he can pinpoint the fallout of his company
Which among the following is true? a) Porter’s 5 forces model focuses on the industry environment and actors who influence industry profitability directly b) The PESTLE model focuses on the larger environment and trends impact a firms strategy indirectly c) Both of the above d) None of the above
The best test of whether potential entry is a strong or weak competitive force is A) whether the industry's driving forces make it harder or easier for new entrants to be successful. B) the strength of buyer loyalty to existing brands. C) whether the strategies of industry members are well matched to the industry's key success factors. D) whether the industry offers an opportunity for a blue ocean strategy. E) to ask if the industry's growth and profit prospects are strongly attractive to potential entry candidates.
Select an existing company in any industry, and identify the following points: Introduction: Describe the company, its industry, and its business context Critical incidents: Include any strories of any organization challenges or achievements. How did it overcome the challenges? How did it accomplish its achievements? Investment potential: Include any of its current issues that need to be addressed or its potiential goals for growths Conclusion: Would you invest in the company why or why not?
2. Use a diagram and accompanying narrative to explain what differentiation is, the different forms it can take, and how a firm utilising the policy is looking to alter its market environment in order to enhance its profit potential.
b) What are the difficulties of diversifying into a new market?c) Discuss the advantages of diversifying into a related market relative to anunrelated market Instruction: This question consistist of question b and c Please to provide a brief response to each question.
The grocery retail industry across America has always tended to involve healthy competition among the various firms in it. (1) Identify the various business competitors in this industry across any geographical location of your choice (County, City , or State ). (2) Determine the respective market shares of each of the largest THREE retail companies in this industry across your chosen geographical location. (3) Analyze the future marketing prospects facing the three industry leaders you identified in Question 2. (4) Provide a strategic planning dossier that identifies new market segments for the three industry leaders you identified in Question 2 .
Q1: Organizations must be able to measure values to strategize their entire marketposition in their own industry.(i) Describe why LOCAL organizations use several measuresrather than only the standard financial measure.(ii) In your perception model for the above goal, illustrate and showthe interrelationships (iii) Include examples in your responses to the scenarios listedabove

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