FUN LEARNING CHAPTER 5 & 8

This are the examples of target market for broad market in business level strategy EXCEPT ?

• Cost leadership

• Differentiation

• Focus Differentiation

The basis for competitive advantage with an overall cost leadership is

• meaningfully lower overall costs than competitors.

• high buyer switching costs

• lower prices than rival firms

• using a low cost/low price approach to gain the biggest market share.

___ is a generic strategy based on appeal to the industrywide market using a competitive advantage based on ___

• Focus & Differentiation

• Overall cost leadership & Low cost

• Differentiation & low cost

• Overall cost leadership & premium pricing

Companies that use differentiation strategies may use which of the following to differentiate their products and services ?

• Price & volue discounts

• Prestige

• Technology

• Features

Focus strategies exploit ___

• One or more specific segment by tailoring specific strategic to serve them

• Resources that are tailored to general market that competitors do not have access to for the same cost

• Both the overall low cost differentiation strategies

• Markets by creating highly loyal customers who are willing to pay higher prices

Combination strategies likely provide value through ___

• Differentiated attributes and lower prices

• Lower prices and profit pooling

• Differentiated attributes and mass customization

• Mass customization and profit pooling

Which type of strategy is based on creating differences in the firms product or service offering by creating something that is perceived industrywide as unique & valued by customers ?

• Generic

• Cost Advantage

• Value Chain

• Differentiation

A ___ strategy is a firms generic stratgies based on appeal to a narrow market segments within an industry ?

• Focus

• Competitive advantage

• Differentiation

• Cost parity

The primary benefit of using a combination strategy is that ___

• Unique products in small qualities that can be manufactured at a lower cost per unit

• Competitors often have difficulty duplicating or imitating them

• A combination strategy always lead to higher profit

• A combination strategy leads to lower costs through better utilization of automation

The broad of the target market refers to ___

• The range between industrywide & narrow market segments

• Revenue per customer versus cost per unit

• The number of potential customers versus the number of potential competitors

• Low cost versus uniqueness