Question 1 Why do different restaurants make up a strategic group? Question 1 op

Question

Question 1

Why do different restaurants make up a strategic group?

Question 1 options:

They compete for similar customers.

They serve similar food.

They have similar strategies

Question 2

In the footwear simulation, the competitive intelligence reports provide you with what?

Question 2 options:

Strategic group maps for each market every year.

Provides hints to managers to consider what choices to make.

How to move into the group and close the group they are leaving.

Question 3

Apart from the signal that a price change sends to the market, an important factor that needs to be considered is what?

Question 3 options:

The effect of price change on retailers, who sit between you and the customers.

To note the tradeoff that you face.

Failure to consider the interactions of nonprice variables is a major flaw in some strategies in the simulation.

Question 4

We also need to be clear that in the simulation, as in many industries, the direct customer of a firm is not the end customer

Question 4 options:

Question 5

If someone walks into a store and requests a shoe that you were promoting using a celebrity and the store has no shoes to sell, then who will be blamed by the end customer? The retailer, or the manufacturer

Question 5 options:

The retailer   

The manufacturer

They compete for similar customers.

They serve similar food.

They have similar strategies

Explanation / Answer

1. They have similar strategies. Correct option. Strategic groups is defined as group of companies with similar business strategies

2. Strategic group maps for each market every year. Correct option.

3. The effect of price change on retailers, who sit between you and the customers. Correct option.

4. True. Direct customer to the company can be many intermediaries and not always end customers. Correct option.

5. The retailer. Correct option. As for the customer the retailer is the selling point for the company and customer only interacts with the retailer.

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