Understanding (Answer 2 out of 3 Questions) (70% of final mark)
Answer TWO out of THREE questions. There is no one single correct answer. Please use concepts and models we discussed in class to inform your answers. Highest marks are given to the most comprehensive and nuanced discussion of your selected questions.
Question 1 (max. 35 points):
You learn that in Industry X, Firm A has significantly less market share than industry leaders B and C, despite superior product quality, according to recent product tests. What does that tell you about key success factors (KSFs) in that industry? What can Firm A do to increase market share and/or to make better use of their ability to develop products of superior quality?
Question 2 (max. 35 points):
You are developing a new ‘smart jacket’ that can measure body temperature and adjust air circulation to regulate user comfort. You are thinking about partnering with a ‘smart watch’ producer to provide a convenient user interface and to allow customers to manually regulate air circulation. Using Porter’s Five Forces and the ecosystem concept, what are critical factors that may affect the profitability of this idea?
Question 3 (max. 35 points):
Your friend Joe has been awarded the Best Fish & Chips in town in his home town Brighton for the third year in a row. Joe feels quite confident about expanding his Fish & Chips restaurant all over Europe and perhaps even Asia. What would Joe’s success in foreign markets depend on, and to what extent is his success in Brighton an indicator of his success abroad?
