this was taken from business concepts and strategic management this was taken from business concepts and strategic management Question  Question 1 Through market research, corporations can target their various products or services so that management can discover what niches to seek or develop, and how to minimize competitive pressure. Which of the following terms does this statement describe? Answer Save your time! Proper editing and formatting Free revision, title page, and bibliography Flexible prices and money-back guarantee ORDER NOW Marketing position Make sure you submit a unique essay Our writers will provide you with an essay sample written from scratch: any topic, any deadline, any instructions. 100% ORIGINAL ORDER NOW Product life cycle Market segmentation Marketing mix 4 points Question 2 Which of the following is more valuable because it can provide companies with a sustainable competitive advantage that is harder for competitors to imitate? Answer Tacit knowledge Explicit knowledge Imitable knowledge Transferable knowledge 4 points Question 3 According to the textbook, which of the following is NOT descriptive of a corporation's culture? Answer A corporation's culture is a collection of beliefs, expectations, and values learned and shared by corporation's members and transmitted from one generation of employees to another. Corporate cultures are only temporary and can be easily changed. Corporate culture norms are created and define acceptable behavior from top management to operative employee. Myths and rituals often emerge over time to explain why a certain aspect of the culture is important. 4 points Question 4 Which societal force includes demographic trends? Answer Political-legal forces Labor forces Economic forces Sociocultural forces 4 points Question 5 Which of the following terms describes an industry dominated by a few large firms, all of which struggle with product differentiation? Answer Multidomestic Consolidated Global Indigenous 4 points Question 6 Which of the following terms refers to a formal program of gathering information on a company's competitors? Answer Statistical modeling Competitive intelligence Competitive strategy Quantitative forecasting 4 points Question 7 What is trend extrapolation? Answer The process of converting intuition and hunches into reality The extension of present trends into the future The process of asking some authorities in the area to make an "informed guess" about the future. The attempt to conceptualize alternative futures 4 points Question 8 What process involves a company taking apart a competitor's product in order to find out how it works? Answer Competitive strategy Replicability Reverse engineering Transparency 4 points Question 9 What are the key environmental trends that are judged to have a medium to high probability of occurrence and a medium to high probability of impact on the corporation? Answer External strategic factors Scenarios Industry forces Strategic issues 4 points Question 10 According to Porter, the corporation is most concerned with: Answer the intensity of competition within its industry. the aggregate level of demand for a product line. a market's position on its life cycle. the amount of pressure from the societal environment. 4 points Question 11 Distinguish between a fragmented and consolidated industry, and describe examples of each. Answer 30 points Question 12 List and explain four current sociocultural trends in the U.S. that are transforming North America and the world.