STRATEGIC MANAGEMENT A
COMPETITIVE ADVANTAGE APPROACH
CONCEPTS AND CASES 18TH EDITION FRED
DAVID FOREST DAVID MEREDITH TEST
BANK COMPREHENSIVE TEST PAPER 2026
COMPLETE ANSWERS ACCURATE
⫸ Two important features that managers can adjust in an effort to
improve the firm's strategic position are ______.
Multiple choice question.
investment value and planned emergence
customer service and investment value
planned emergence and product features
product features and customer service Answer: product features and
customer service
⫸ Different value drivers contribute to competitive advantage only if
______.
Multiple choice question.
the company also offers product customization
customer service prices exceeds the cost of product features
the increase in perceived value exceeds the corresponding cost increase
premium pricing is used Answer: the increase in perceived value
exceeds the corresponding cost increase
,⫸ Unique features and attributes that differentiate a product from
competitors' offerings allow the firm to ______.
Multiple choice question.
charge only as much as the competition charges for its product
charge premium pricing
reduce the cost of raw materials
hire employees away from competitor Answer: charge premium pricing
⫸ Which value driver would be the focus of a company that sells
products that are similar to competing products and that provides a 60-
day guarantee with no questions asked?
Multiple choice question.
complements
customer service
product features
profits Answer: customer service
⫸ A manufacturer of electronic components can use its manufacturing
machines to produce many different components such as
semiconductors, sensors, and capacitors. In this case, the firm benefits
from an economy of , reducing overall production costs by finding
multiple uses for its components and facilities. Answer: Scope
, ⫸ What are the three most important value drivers that managers can
use to create a competitive advantage?
Multiple select question.
cost savings
availability
customer service
product features
complements Answer: customer service
product features
complements
⫸ For a differentiation strategy to strengthen a company's strategic
position and boost its competitive advantage, ______.
Multiple choice question.
an increase in costs must exceed the increase in value creation
any increase in costs is unacceptable
any increase in value creation must not be more than the increase in
costs
an increase in value creation must exceed the increase in costs Answer:
an increase in value creation must exceed the increase in costs
⫸ Which capability is required to create superior product features?
Multiple choice question.
accounting
COMPETITIVE ADVANTAGE APPROACH
CONCEPTS AND CASES 18TH EDITION FRED
DAVID FOREST DAVID MEREDITH TEST
BANK COMPREHENSIVE TEST PAPER 2026
COMPLETE ANSWERS ACCURATE
⫸ Two important features that managers can adjust in an effort to
improve the firm's strategic position are ______.
Multiple choice question.
investment value and planned emergence
customer service and investment value
planned emergence and product features
product features and customer service Answer: product features and
customer service
⫸ Different value drivers contribute to competitive advantage only if
______.
Multiple choice question.
the company also offers product customization
customer service prices exceeds the cost of product features
the increase in perceived value exceeds the corresponding cost increase
premium pricing is used Answer: the increase in perceived value
exceeds the corresponding cost increase
,⫸ Unique features and attributes that differentiate a product from
competitors' offerings allow the firm to ______.
Multiple choice question.
charge only as much as the competition charges for its product
charge premium pricing
reduce the cost of raw materials
hire employees away from competitor Answer: charge premium pricing
⫸ Which value driver would be the focus of a company that sells
products that are similar to competing products and that provides a 60-
day guarantee with no questions asked?
Multiple choice question.
complements
customer service
product features
profits Answer: customer service
⫸ A manufacturer of electronic components can use its manufacturing
machines to produce many different components such as
semiconductors, sensors, and capacitors. In this case, the firm benefits
from an economy of , reducing overall production costs by finding
multiple uses for its components and facilities. Answer: Scope
, ⫸ What are the three most important value drivers that managers can
use to create a competitive advantage?
Multiple select question.
cost savings
availability
customer service
product features
complements Answer: customer service
product features
complements
⫸ For a differentiation strategy to strengthen a company's strategic
position and boost its competitive advantage, ______.
Multiple choice question.
an increase in costs must exceed the increase in value creation
any increase in costs is unacceptable
any increase in value creation must not be more than the increase in
costs
an increase in value creation must exceed the increase in costs Answer:
an increase in value creation must exceed the increase in costs
⫸ Which capability is required to create superior product features?
Multiple choice question.
accounting