Show 1 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Entrepreneurship: Successfully Launching New Ventures, 4e (Barringer/Ireland) Chapter 5 Industry and Competitor Analysis 1) Element Bars, the company profiled in the opening feature for Chapter 5, has a unique position in its industry. It has positioned itself as: A) a generic energy bar company that resells energy bars to companies who want to create their own branded energy bars B) a niche energy bar company that sells in high-end outlets, like 5 star hotels and spas C) a premium energy bar company that only uses the most wholesome and healthy ingredients, and makes special bars for vegetarians and vegans D) a low-cost energy bar company that makes energy bars more accessible to people in all income brackets and still offers healthy ingredients E) a customizable energy bar company that sells to individuals online and also to companies who want to create their own branded energy bars Answer: E Diff: 2 Page Ref: 147 Topic: Industry Analysis AACSB: Reflective Thinking Objective: Describe the role of entrepreneurs and small business 2) Jeremy Banks recently started a new firm in the financial services industry. Prior to starting his firm, he spent considerable time doing research on the potential of the industry. The research that Jeremy was doing is called: A) industry analysis B) sector analysis C) commercial analysis D) business analysis E) target market analysis Answer: A Diff: 1 Page Ref: 148 Topic: Industry Analysis AACSB: Reflective Thinking Objective: Describe the role of entrepreneurs and small business 3) A(n) ________ is a group of firms producing a similar product or service, such as soft drinks, electronic games, or computers. A) cluster B) division C) sector D) industry E) network Answer: D Diff: 1 Page Ref: 148 Topic: Industry Analysis AACSB: Reflective Thinking Objective: Describe the role of entrepreneurs and small business focusNode Didn't know it? Knew it? Embed Code - If you would like this activity on your web page, copy the script below and paste it into
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What is a fragmented industry?Industry Fragmentation
Fragmentation happens when there is no clear leader within an industry. This means while many companies may operate in a specific industry, none of them have enough market share to influence prices, production, investment, and their competition.
What are the 4 industry types?In economics, industries are customarily classified as primary, secondary, and tertiary; secondary industries are further classified as heavy and light.
What is a mature industry?A mature industry is one that has passed both the emerging and growth phases of industry growth. Companies in these industries tend to be larger, older, and more stable. At the beginning of the industry lifecycle, new products or services find use in the marketplace.
What is fragmented industry in entrepreneurship?A fragmented industry is one in which many companies compete and there is no single or small group of companies which dominate the industry. The competitive structure of the industry means that no one company is in an overly strong or influential position in the industry.
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