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Practice Quiz 4: MIS Chapter 3

Porter defined ________ as the amount of money that a customer is willing to pay for a resource, product, or service.
Porter’s model of business activities includes ________, which are interactions across value activities.
The difference between the value that an activity generates and the cost of the activity is called the ________.
If customers perceive the benefits of a substitute to be similar to that of a product, then ________.
the threat from the substitute is strong
The competitive strategy followed by an organization is derived from its ________.
The competitive strategy of an organization determines its ________.
value chains
Porter’s five competitive forces can be grouped into two types: forces related to ________ and forces related to supply chain bargaining power.
Two strength factors that relate to all three competitive forces are ________ and customer loyalty.
switching costs
As Porter says, the processes and systems in an organization pursuing differentiation strategy must ________ to avoid negative margins.
create sufficient value to cover their costs
A business that selects a differentiation strategy would ________.
add cost to an activity provided it has a positive margin

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