Late movers are those firms that
a. respond to a competitive action a significant amount of time after the first mover's action and the second mover's response.
b. respond to a first mover's competitive action often through imitation or a move designed to counter the effects of the action.
c. take an initial competitive action (either strategic or tactical).
d. typically achieve higher-than-average returns because they can imitate the most efficient actor.
Answer: respond to a competitive action a significant amount of time after the first mover's action and the second mover's response.
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Strategic Management Chapter 5
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- In order to compete effectively, standard-cycle firms need all of the following EXCEPT
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- Goods or services in standard-cycle markets reflect
- The competitive actions and responses in _____ markets are designed to seek large market shares
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- Companies in fast-cycle markets need to profit quickly from an innovative product for all of the following reasons EXCEPT
- A company in a _____ industry is LEAST likely to make heavy use of patents and copyrights.
- ____ markets are often described as volatile and innovative.
- An organization's loyalty to its own product is a competitive disadvantage in a(n) _____ market.
- Because Coca-Cola, Nestle, and PepsiCo all sell a product (bottled water) that is essentially the same and all three giant companies are engaged in battles for market share using incremental changes in their products and seeking loyalty to brand names, it is most likely that the bottled water market is a(n)
- Lawsuits over patent and copyright infringements are more common and intense in
- Traditionally, the music industry signed multi-year contracts with artists and sold copyright protected music through established distribution channels. A shift to the digital format and the rise of Internet technology has resulted in the sharing of music over peer-to-peer networks, a practice the industry called "piracy." In recent years, the music industry has seen a rapid decline in the number of CDs sold. At the same time, the ownership of the distribution rights of musical content under copyright laws remains clear. Attempts at innovation by individual record labels to offer music as direct downloads to consumer are quickly copied by other labels. Based on these factors, the best assessment is that the music industry has shifted from a _____ to a _____ cycle market.
- Which industry can be LEAST described as a slow-cycle market?
- Reverse engineering is characteristic of
- Sustained competitive advantage is most achievable in a _____ market.
- Walt Disney's focus on _____ is typical of a slow-cycle market.
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- The ability of Disney to maintain its competitive advantage through proprietary rights to its characters would be severely weakened if
- Which company below committed significant resources to enter the information services market and, given its success, was imitated by other competitors?
- Akamai Technologies is a dominant player in the content delivery network (CDN) market. Akamai is not very diversified (i.e., is dependent on the CDN market). If rival CDN providers such as Limelight Networks and Level 3 Communications lower their basic CDN service prices, what would be Akamai's likely response?
- Lobelia's Nursery and Garden Resource Center has long provided high-quality, typical types of seasonal bedding plants to customers in the Mobile, Alabama, metropolitan area. It has traditionally competed with the other plant nurseries within a 50-mile radius of Mobile. Recently, Lobelia has opened a branch in Fairfax, Virginia. Lobelia's research shows that most Fairfax nurseries have only one location. Lobelia can expect the local Fairfax nurseries to
- Which organization has the highest market dependence?
- Quality is
- Quality affects competitive rivalry because a competitor whose products suffer from poor quality likely will _____________ until: