Industry concentration refers to the extent to which large firms dominate an industry. Buyers and suppliers generally have more bargaining power when they operate in concentrated industries. This is because the firms that do business with them have fewer options when seeking buyers and suppliers. Full-service restaurants are considered ‘fragmented’ industries. What level of concentration would this industry fall under?

________________ is a hormone produced by the pancreas to control blood sugar.

 True or False: A patient taking an immune suppressant such as Neoral can also take Ketoprofen for pain at the same time.    

Joe Westwood wants to join the car industry. He is creating the concept of a new car but believes he will struggle to be competitive because there are already existing competitors that have been in the automotive industry for a while. They have plenty of cash to continue growing while Joe does not have enough. He decides to not join the industry because of the difficulty to join and the shortage of cash. This is an example of _______________.

Which of the following is an example of low bargaining power of buyers?

A new bus company presents a membership option to a market of daily commuters. Due to this new membership option, car owners may now take the bus instead. Which of Porter’s Five Forces would apply to this situation?

What is NOT an important element of strategy implementation?

Apple has created a strong brand reputation that represents exclusivity. One could say consumers of Apple are willing to forego certain features available to other consumers in exchange for perceived status. Consumers of Apple products pay a premium that they are not likely to pay anywhere else, even if the rival company produces products with similar features and uses the same materials to make the product. This is a good example of __________.

A new, independently owned Italian restaurant has opened in a town that currently has 2 other Italian style restaurants, both franchise establishments. The owner knows that if his business receives great reviews in its first few years of being open, he will have the ability to raise prices higher than competitors because of its distinguished food and service. However, because the restaurant is new, they only have a small number of recurring customers. If he raises prices now, frequent customers may not come back. The setback of establishing prices at an amount that customers will want to pay is referred to as PorterÕs force of _____________.

Starbucks and Dunkin Donuts are considered rival competitors in their industry. According to Porter’s Five Forces, which of the following provides the BEST explanation for why these two companies have such fierce rivalry?