Competitive Strategy

According to Michael Porter, how many generic strategies are there for companies to gain a competitive advantage?

• One

• Two

• Three

• Four

Which of the following is NOT a way that a company can achieve cost leadership?

• Economies of scale

• Proprietary technology

• Distinctive product features

• Preferential access to raw materials

What is the main difference between cost focus and differentiation focus?

• Cost focus targets a narrow segment of the market, while differentiation focus targets the entire market.

• Cost focus aims to be the lowest cost producer in the industry, while differentiation focus seeks to be unique in its industry.

• Cost focus relies on economies of scale, while differentiation focus relies on creative advertising.

• Cost focus focuses on offering higher quality products, while differentiation focus focuses on offering lower-priced products.

Which among the companies are examples of cost leaders?

• Apple

• Walmart

• Tesla

• Harley-Davidson

What is the main goal of differentiation strategy?

• To be the lowest cost producer in the industry

• To target a narrow segment of the market

• To offer products or services perceived as valuable by customers

• To achieve economies of scale

What is the main objective of Michael Porter's Generic Strategy?

• To maximize profits

• To increase market share

• To reduce costs

• To differentiate the product

Which of the following is NOT one of Michael Porter's Generic Strategies?

• Cost Leadership

• Differentiation

• Focus

• Integration

Cost Leadership strategy aims to:

• Provide unique and innovative products

• Target a specific market segment

• Offer products at the lowest cost in the industry

• Focus on customer relationship management

Differentiation strategy focuses on:

• Offering products or services at the lowest cost

• Attracting customers through unique features or attributes

• Targeting a specific market segment

• Creating strong supplier relationships

Which Generic Strategy focuses on serving a narrow market segment?

• Cost Leadership

• Differentiation

• Focus

• Integration