Starbucks obtained a competitive advantage by building long-term relationships with coffee producers. These relationships are difficult to imitate because they are

a Ingrained in the culture

b Causally ambiguous

c Socially complex

d All of the listed answers are correct

Buyers have little bargaining power when

a they are many buyers and each buys small quantities of the industry's product

b the industry's products are highly differentiated

c all of the listed answers are correct

d buyers do not have the capability to produce the industry's product internally

When a company's top managers observe that another industry is very profitable, they may consider to enter into that industry.If the company had created a strong brand to prepare for its entry, this action might have served as

a A meet-and-release clause

b An early exit strategy

c A way to promote dumping

d A credible commitment to avoid competing on price