Strategic Management Ch 5 - Video Quiz: Competition Among Car Companies

If General Motors releases a new pick-up truck, which competitor should the firm be aware of for competitive responses? a.Ford b.Toyota c.Honda d.Chrysler

a.Ford

Based on the information from the video, nearly 50% of U.S. consumers prefer sport utility vehicles. Between U.S.-based car companies, this demonstrates a: a.market commonality. b.resource similarity. c.resource commonality. d.market rivalry.

a.market commonality.

In order to stay ahead of the competition, car companies must study ______________ to predict the competitive actions and responses their competitors are likely to take. a.tactical action b.competitive rivalry c.strategic rivalry d.competitive dynamics (X)

b.competitive rivalry ?

Car companies competing in various market segments, including SUVs, trucks, and compact cars, are referred to as: a.competitive dynamics. b.multimarket competition. c.market commonality. d.fast-cycle markets.

b.multimarket competition.

General Motors and its competitors are constantly "thinking of tomorrow" in terms of their products. This means that car companies are competing in a: a.slow-cycle market. b.standard-cycle market. c.fast-cycle market. d.stagnant market.

c.fast-cycle market.

To understand the competitive environment of the small car market, including market commonalities and resource similarities, General Motors should perform a: a.tactical action. b.competitive response. c.strategic action. d.competitor analysis.

d.competitor analysis.