Question

1. Great Place is a coffeehouse located opposite Austin Kitchen, a restaurant. According to Porter's five-force model, the services and products provided by both places are most likely to be classified as:

Select one:

A. Complements

B. Competitors

C. Substitutes

D. Intermediates

2. When Butterfly Inc. announced that it will explore the global market in the next 20 years, it was stating its

Select one:

A. core competence.

B. inventory of capabilities.

C. strategic intent.

D. supplier bargaining power.

3. Which of the following calls for an early entry into a market?

Select one:

A. Immature enabling technologies

B. Unavailability of complementary goods

C. High customer uncertainty

D. Low entry barriers

Answer 1

Answer 1: Option A

Explanation: Since Great place is a coffee house and Austin Kitchen is a restaurant, they both can be considered as complements of each other. People who meet for snacks or coffee in a Great place may further go to Austin Kitchen for dinner or lunch.

Answer 2: Option C

Explanation: Announcing that it will explore the global market in 20 years, the firm Butterfly Inc is stating its strategic intent for its business in the future.

Answer 3: Option D

Explanation: The firm which experiences low entry barriers, can choose to have an early entry in the market.