MGT 4335 EXAM 3 QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026

MGT 4335 EXAM 3 QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026 Strategic Group - Answers A set of companies that compete in similar ways with similar business models pursuing similar sets of customers. Barrier to Mobility - Answers Any factor that limits the ability of a company to move between strategic groups. Which of the following terms represent a set of companies that compete in similar ways with similar business models pursuing similar sets of customers? A. Strategic group B. Game theory C. Market structure D. Competitor profile - Answers A. Strategic group Any factors that limit the ability of a company to move between strategic groups are called ___________. A. strategic barriers B. game theories C. barriers to entry D. barriers to mobility - Answers D. barriers to mobility Companies find that switching strategic groups is easy once they have built a history in one. A. True B. False - Answers B. False A __________ provides a basis for making competitive assessments not only because it defines who a company's competitors are but also because it can help to analyze potential changes in the landscape. A. strategy canvas B. strategic group map C. competitor response profile D. tit-for-tat strategy - Answers B. strategic group map Competitor Response Profile - Answers A profile of a competitor that identifies its objectives and assumptions, its strategy, and its resources and capabilities in order to anticipate how the competitor might respond to rival actions. Game Theory - Answers A structured approach to the analysis of competitor interaction that yields predictions about which strategic actions are most likely to be chosen by rivals. Nash equilibrium - Answers A set of moves in a game that simultaneously maximize each firm's payoff, given the choices of rivals, and from which no player has an incentive to defect. The Nash equilibrium is represented by a set of moves in a game that: - Answers (1) maximizes each firm's payoff given the choices of rivals and (2) removes the incentive to defect in the sense that no player can improve his payoffs by changing his choice Dominant Strategy - Answers In game theory, a set of actions that is always played no matter what a rival chooses to do tit-for-tat strategy - Answers A strategy that responds in kind to the moves of rivals. A(n) _________ is a profile of a competitor that identifies its objectives and assumptions, its strategy, and its resources and capabilities in order to anticipate how the competitor might respond to rival actions. A. competitor response profile B. strategic group map C. strategy canvas D. competition landscape - Answers A. competitor response profile Which of the following is a structured approach to analysis of competitor interaction that yields predictions about which strategic actions are most likely to be chosen by rivals? A. Competitor response profile B. Game theory C. Dominant strategy D. Tit-for-tat strategy - Answers A. Competitor response profile __________ represents a set of moves in a game that simultaneously maximize each firm's payoff, given the choices of rivals and from which no player has an incentive to defect. A. Nash equilibrium B. Competitor landscape C. Dominant strategy D. Game theory - Answers A. Nash equilibrium In game theory, a _________ is a set of actions that are always played no matter what a rival chooses to do. A. strategy canvas B. game structure C. dominant strategy D. tit-for-tat strategy - Answers C. dominant strategy Which of the following is NOT a principle of competitive strategy? A. Develop strategies that cannot be easily imitated B. Bring threats against weaknesses C. Protect and neutralize vulnerabilities D. Know your strengths and weaknesses - Answers B. Bring threats against weaknesses A company's __________ are the resources and capabilities that deliver unique value. A. strengths B. opportunities C. threats D. weaknesses - Answers A. strengths A company's strengths are the resources and capabilities that are subject to rapid obsolescence, easy imitation, or high cost not recouped by value. A. True B. False - Answers B. False A company's own __________, once identified, must either be reinforced or truly neutralized so they don't become targets of competitors. A. weaknesses B. opportunities C. threats D. strengths - Answers A. weaknesses Market Structure - Answers The way rivals in a market interact and bargain for advantage. In its simplest terms, it's the number of rivals in a particular market Barrier to Entry - Answers Any factor that increases the costs, lowers the profit margins, or limits the market share of entrants to a market. Which of the following represents the way rivals in a market interact and bargain for advantage? A. Nash equilibrium B. Market Structure C. Game theory D. Dominant strategy - Answers B. Market Structure Any factor that increases the costs, lowers the profit margins, or limits the market share of entrants to a market is known as a(n) ________. A. strategic structure B. barrier to mobility C. game theory D. barrier to entry - Answers D. barrier to entry Which of the following is NOT a way to reinforce a monopoly? A. Limit competitive access to scarce resources B. Introduce new products frequently C. Innovation and patenting D. Lower entry barriers - Answers D. Lower entry barriers An oligopoly is a market of one firm or one highly dominant firm. A. True B. False - Answers B. False Companies that are in your industry but not in your strategic group are not direct competitors. A. True B. False - Answers A. True Southwest and Delta compete in the same strategic group. A. True B. False - Answers B. False Switching from one strategic group to another is usually difficult. A. True B. False - Answers A. True Determining the best way to respond to _____________ is often a company's most central concern. A. difficult employees B. upset customers C. competitive threats D. ups and downs of the economy - Answers C. competitive threats How do companies in different strategic groups differ from each other? A. They employ different business models. B. They go after customers with different value propositions. C. They are in completely different industries (e.g., automobile vs. medicine). D. They are in completely different industries and employ different business models. E. They employ different business models and go after customers with different value propositions. - Answers E. They employ different business models and go after customers with different value propositions. Which of the following is a characteristic of markets with perfect competition? A. Attempts to use price strategically are not effective in these markets. B. Dropping price increases total margin by more than it increases sales. C. The firms in these markets are price setters. D. They are markets with one highly dominant firm. - Answers A. Attempts to use price strategically are not effective in these markets. Nash equilibrium is represented by a set of moves in a game that ________. A. improves the firms' payoffs by changing the choice