Mercedes mass produces luxury vehicles at a premium price it uses a(n strategy)
In case you need quick answers, search function of the browser may be helpful. Business level strategies are concerned specifically with… In order to meet and exceed customer’s expectations, firms must… The focused differentiation strategy differs from the differentiation strategy in that: When implementing a focus strategy, the firm seeks to… A business level strategy is an integrated and coordinated set of commitments and actions designed to exploit core
competencies and gain a competitive advantage in specific product markets. Business level strategies detail commitments and actions taken to provide value to customers and gain competitive advantage by exploiting core competencies in… When selecting a business level strategy, the firm must determine all of the following except… When a firm is able to produce non-standardized (that is, distinctive) products for customers who value differentiated features more
than they value low cost, the firm is successfully implementing… A product’s value is created by each of the following except: From a customer’s point of view, for an organization’s capability to be a core competence it must be… Which of the following is a process used to cluster people with similar needs into individual and identifiable groups? The focused differentiation strategy differs from the differentiation strategy in that: What does FMS stand for as used in this chapter? A cost leadership strategy provides goods or services with features that are: Which of the following involves engaging in primary value chain activities and support functions that allow the firm to simultaneously pursue low-cost and differentiation? The _____ dimension of relationships with customers is
particularly important for social networking sites such as Facebook and MySpace. Social networking sites such as MySpace and Facebook utilize which of the dimensions of relationships? Which of the following are examples of approaches to
differentiation? Which of the following must a company remember when pursuing a cost leadership strategy? One of the following dimensions of a firm’s relationships is concerned with the depth and detail of a two-way flow of information between the customer and the firm, which
is it? The three dimensions of a firm’s relationships with customers include all the following except: All of the following are considered generic business-level strategies except: The products or services that are differentiated from others have qualities that are: When faced possible substitutes the cost leader has which of the following? Which of the following is not a competitive risk of a
cost leadership strategy? When selecting a business level
strategy, firms evaluate two types of potential competitive advantage which of the following do they utilize? From a strategic perspective, a basic need of all customers is to buy products that do what? Amazon has built capabilities around Internet technology and e-commerce to facilitate information
exchanges with its customers in a cost-effective manner. This represents which of the following service dimension? Which of the following is an integrated set of actions taken to produce goods or services that serve the needs of a particular competitive segment? Which of the following is not a business level strategy? A firm’s core strategy is its ____ strategy.
Q31Which of the following business level strategies consider rivalry with existing competitors, the bargaining power of buyers, the bargaining power of suppliers, and potential entrants before creating the final strategy?
Q32Cost leadership strategy has numerous activities associated with it. Which of the following are the support functions that go along with the cost leadership strategy?
Q33Research suggest that having a competitive advantage in logistics creates which of the following when used with a cost leadership strategy rather than a differentiation strategy?
Q34The focused differentiation strategy differs from the differentiation strategy in that:
Q35Corporate parenting generates corporate strategy by focusing on…
Q35The competitive pressures from substitute products tend to be weaker when…
Q36Which of the following are most unlikely to qualify as driving forces?
Q37Which of the following is not a major question to ask in assessing a company’s industry and competitive environment?
Q38Whether buyer bargaining power poses a strong or weak source of competitive pressure on industry members depends in part on…
Q39Which one of the following conditions acts to intensify the competitive pressures associated with the threat of entry?
Q40A competitive environment where there is weak to moderate rivalry among sellers, high entry barriers, weak competition from substitute products, and little bargaining leverage on the part of both suppliers and customers …
Q41The bargaining leverage of suppliers is stronger when…
Q42Which one of the following conditions weakens the competitive pressures associated with the threat of entry?
Q41The key success factors in an industry…
Q42The managerial payoff from spending the time and effort to gather and digest competitive intelligence about rivals’ strategies and situations and gain some inkling of what moves they will be making comes from…
Q43Business-level strategies detail commitments and actions taken to provide value to customers and gain competitive advantage by exploiting core competencies in:
Q44The three dimensions of a firm’s relationships with customers include all the following except:
Q45Which of the following is true?
Q46The ________dimension of relationships with customers is particularly important for social networking sites such as Facebook and Twitter.
Q47Viewing the world through the customer’s eyes and constantly seeking ways to create more value for the company enhances:
Q48Before the firm decides what products to offer and what benefits and features they will have, the firm must decide all the following questions except:
Q49In the animal food products business, food-product needs of owners of companion animals pets (e.g., dogs and cats) differ from the needs for food and health-related products of those owning production animals (e.g., livestock). Which of the following aspects of managing customer relationships does this choice refer to?
Q50Starbuck’s determined that all of the following customer needs were important except:
Q51Hyundai allows customers to return their cars if they lose their job within 12 months of purchase. Which of the following aspects of managing customer relationships is Hyundai engaged in?
Q52An interior decorator has moved his business from Los Angeles to St. Paul, Minnesota, because his spouse’s company transferred her to St. Paul. The decorator is distressed because the customers in his target market have, in his words, “banal and bourgeois taste.” What is the decorator’s problem?
Q52In order to meet and exceed customer’s expectations, firms must:
Q53Business-level strategies are concerned specifically with:
Q54An entrepreneur is investigating starting a company that provides tax advice to small companies. In order to position his company differently from the existing competitors, the entrepreneur must:
Q55Which of the following are central to implementing value-creating strategies and thereby satisfying customers’ needs?
Q56The analysis of the activity map of a successful company such as Southwest Airlines emphasizes how:
Q57By examining the ____ of Southwest Airlines, one can identify the strategic themes around which it has developed its business strategy. These themes include limited passenger service, high aircraft utilization, and highly productive ground and gate crews.
Q58If Southwest Airlines employees lost their high enthusiasm and commitment to the company:
Q58Strategic fit among many activities (in an activity map) is fundamental to:
Q59All of the following are considered generic business-level strategies except:
Q60A company using a narrow target market in its business strategy is:
Q61As the television industry has changed in the last few decades from just three major networks to a multiplicity of networks, one of the major aspects of business strategy for the newer networks is ____ than the traditional networks.
Q62The effectiveness of any of the generic business-level strategies is contingent upon:
Q63A cost leadership strategy provides goods or services with features that are:
Q64A cost leadership strategy targets the industry’s ____ customers.
Q65Durable Ceramics, Inc., provides inexpensive ceramic tile to builders of institutional buildings such as schools, prisons, and public administration buildings. It has always competed on a cost leadership basis. Most of its products are purchased by a few commercial construction firms, so it is fairly dependent on these construction firms for selling its product. Durable Ceramic’s next most-efficient competitor, Cost-Less Ceramics, Inc., earns average returns, whereas Durable earns above-average returns. The commercial construction firms are putting pressure on Durable to reduce its prices. If Durable reduces its prices below those of Cost-Less’s prices, it is likely that:
Q66A river barge company can offer cheaper, although slower, per pound transportation of products to companies when compared with transportation by air, truck, or rail. The river barge company should first target customers whose companies use:
Q66Walmart went against business-level strategy and made changes to attract upscale customers. These changes had which of the following results?
Q67Walmart’s same store sales have been declining and those of rivals Family Dollar and Amazon have been increasing. What could explain this recent change?
Q68A company pursuing the differentiation or focused differentiation strategy would tend to:
Q69When the costs of supplies increase in an industry, the low-cost leader:
Q70Ever-improving levels of efficiency enhance profit margins for a cost-leader. This affects which of the five forces of industry structure most directly?
Q70The typical risks of a cost leadership strategy include:
Q71A firm successfully implementing a differentiation strategy would expect:
Q72The products or services that are differentiated from others, have qualities that are:
Q73Blind taste-tests have shown that the taste of premium-priced vodkas and inexpensive vodkas are indistinguishable even to regular drinkers of vodka. But the sales of premium vodkas are thriving. This is an example of:
Q73All of the following are examples of differentiated products except:
Q74The use of a differentiation strategy would be expected to be least effective in which of the following markets?
Q75All of the following are ways that a good or service can be differentiated except:
Q76The differentiation strategy can be effective in controlling the power of rivalry with existing competitors in an industry because:
Q77Wholesome Pet Food has successfully specialized for 20 years in high-quality pet food made from all-natural ingredients and organically raised lamb. This brand has a strong following and is recommended by veterinarians who practice in affluent neighborhoods. Wholesome’s main supplier of lamb has announced that the price for lamb will be 15 percent higher next year. Which one of the following is true?
Q78Which of the following is not a value-creating activity associated with the differentiation strategy?
Q78A differentiation strategy can be effective in controlling the power of substitutes in an industry because:
Q79Recently, the only type of car available for Anthony to rent on a business trip was a compact, fuel-efficient Japanese import. Anthony was surprised at the comfort and performance of the car. He is in the market for a new car and had previously considered only buying another luxury SUV. Now, he is thinking about the significant cost savings he would have if he bought the compact vehicle rather than a new SUV. This is an example of the competitive risk that:
Q80A manufacturer of jewelry imitates the style of a popular and expensive brand using manufactured stones rather than real gemstones and lesser grade metals rather than silver and gold. The manufacturer packages the jewelry in boxes of the same color imprinted with an almost identical logo. About 85 percent of the company’s sales are through Internet sales. This example illustrates the competitive risk of ____ that threatens companies that use the differentiation strategy.
Q81The typical risks of a differentiation strategy do not include which of the following?
Q82Chico’s is a clothing retailer that targets middle-aged women who want stylish and appealing clothes that are suitable for the mature figure. Chico’s has an extensive customer list, a frequent-buyer discount card, and frequent sales promotions to Chico’s customers based on their spending levels. Chico’s uses a ____ strategy.
Q83The new generation of lunch trucks serving high-end fare in cities such as New York, San Francisco, and Los Angeles share which of the following business strategy?
Q84The Monteleone Company pays large fees to a highly recognizable, prestigious individual to be the spokesperson for the company’s products, luxury private jets. Monteleone is probably following the:
Q85The risks of a focus strategy include:
Q86Focus strategies are:
Q87New Balance Athletic Shoes target Baby Boomers’ needs for well-fitting shoes. The company is unique in that it offers a very broad range of shoe widths. A realistic potential risk New Balance runs in this focused differentiation strategy includes the possibility that:
Q88Suppose another firm found a way to offer IKEA’s customers (young buyers interested in stylish furniture at low cost) additional sources of differentiation while charging the same price or to provide the same service with the same sources of differentiation at a lower price. What category of competitive risk to a focus strategy would this be?
Q89Zara has pioneered “cheap chic” in clothing apparel. Zara offers current and desirable fashion goods at relatively low prices. To implement the strategy, Zara uses sophisticated designers and effective means of managing costs. These are all characteristics of which business level strategy?
Q90Firms use the integrated cost leadership/differentiation strategy because:
Q91The integration of a cost leadership and a differentiation strategy:
Q92Target’s brand promise “Expect More. Pay Less” and appeal to higher-income, fashion-conscious discount shoppers illustrates the _____ strategy.
Q93J.C. Penney attempted the strategy ______ . But it couldn’t out ______ Walmart, nor could it ______ Macy’s and Target.
Q94Three sources of flexibility in completing primary and support activities are particularly useful for firms using the integrated strategy. These are:
Q95The benefit of a flexible manufacturing system is that:
Q96A flexible manufacturing system is:
Q97A nationwide chain of pet stores wishes to identify the tradeoffs that its customers are willing to make between low-cost products such as generic pet foods and differentiated features such as pick-up and delivery of pets for grooming. The best technique for this firm to learn this information would be to use:
Q97By linking companies with their suppliers, distributors, and customers, ____ provide a company with flexibility.
Q98TQM is most helpful to firms following the ____ business strategy.
Q99The term “stuck in the middle”:
Q100All of the following describe strategies except:
Q101More choices and easily accessible information about the functionality of firms’ products are creating increasingly ______ customers.
Q102The ______ dimension of relationships with customers is concerned with the firm’s access and connection to customers.
Q103Reach is an especially critical dimension for which firm?
Q104Customer ratings of products they bought online is an example of:
Q105A company selling diapers knows the market is for people with young children. However, within that segment they can further divide the market by a demographic factor like:
Q106When firms use core competencies to implement value-creating strategies they are answering the “______” question.
Q107Stage in the family life cycle is a ______ factor.
Q108The book The Dyslexic Advantage appeals to a market of educators, people with dyslexia, their friends, family, and coworkers. This is customer segmentation by ______ factors.
Q109Religious beliefs are an example of customer segmentation by ______ factors.
Q110Historically, women have paid more for dry cleaning than men. Signature Cleaners advertises “equal price” for all customers. Signature Cleaners appeals to women, which is market segmentation by ______ factors.
Q111Chelsea Milling Company makes Jiffy packaged baking mixes. It was established in 1930. It has never spent one cent on advertising, which is one reason it is able to pursue a(n) ______ strategy.
Q112Mercedes mass produces luxury vehicles at a premium price. It uses a(n) ______ strategy.
Q113A firm using a(n) ______ strategy generally needs to operate “below the radar” of larger and more resource rich firms that serve the broader market.
What is cost leadership strategy in strategic management?Definition: Cost leadership is a term used when a company projects itself as the cheapest manufacturer or provider of a particular product or commodity in a competition. It is difficult to deploy the strategy because the management must constantly work on reducing cost at every level to remain competitive.
What is a firms core strategy?What is Core Strategy? Core Strategy is the first component of a business model which describes how a firm competes with its competitors in the market. These include the tactics that are at the core of the business strategy.
Which generic businessCost leadership is a business-level strategy employed by companies who wish to gain a competitive advantage by being the lowest-cost producer of a service, production process, or commodity.
Which of the following is critical to implement value creating strategies and thereby satisfying customers needs?Firms use core competencies (how ) to implement value-creating strategies and thereby satisfy customers' needs.
|