MGMT 449 CSUF Exam 2 Prep || with Complete Solution.
The Five Generic Competitive Strategies include A) High Cost
A) Narrow Differentiation
B) No Cost provider
C) Best Margin
D) Narrow differentiation correct answers A) Narrow Differentiation (1.Broad, Low-cost
Strategy:
2.Broad Differentiation Strategy:
3. Focused Low-cost Strategy:
4.Focused Differentiation Strategy:
5.Best-cost (Hybrid) Strategy)
A Low-cost leaders basis for competitive advantage
A) Lowest possible prices for comparable products
B) a low cost / moderate price approach to gain the biggest market share
C) high buyer switching costs
D) meaningful lower overall costs than rivals on comparable products correct answers A)
Meaningful lower overall costs than rivals on comparable products
Achieving a sure-cost advantage over rivals entails A) Concentrating on the primary activities
portion of the value chain and outsourcing all support activities
B) being a first mover in pursuing backward and forward integration and controlling as much of
the industry value chain as possible.
C) selling a mostly standard product and increasing the scale of operation
D) minimizing R&D expenses and paying below average wages and salaries to conserve on labor
costs correct answers A) selling a mostly standard product and increasing the scale of operation
The culture of a company can be a cost-efficient value chain activity because it can
, A) allow for safeguarding internalized operating benefits
B) distinguishing a company's capacity integration efforts.
C) spur worker pride in productivity and continuous improvement
D) foster quality technological enhancements correct answers A) spur worker pride in
productivity and continuous improvement
The essence of a broad differentiation strategy is to
A) appeal to the high end part of the market and concentrate on providing a top of the line
product to consumers
B) incorporate a greater number of differentiating features into its product / service than rivals
C) outspent rivals on advertising and promotion in order to inform and convince buyers of the
value of its differentiating attributes
D) offer unique product attributes in ways that are valuable and appealing and that buyers
consider the cost worth it. correct answers A) offer unique product attributes in ways that are
valuable and appealing and that buyers consider the cost worth it
Opportunities to differentiate a company's product offering
A) are most reliably found in the R&D portion of the value chain
B) are typically located in the sales and marketing portion of the value chain
C) can exist in activities all along an industry's value chain
D) usually are tied to product quality and customer service correct answers A) can exist in
activities all along an industry's value chain
The objective of differentiation is to
A) offer customers something rivals can't, at least in terms of the level of satisfaction
B) develop strategies that are different from those of rivals
C) establish objectives that are measurable and meaningful when it comes to sales growth
D) offer customers a sustainable competitive advantage correct answers A) offer customers
something rivals can't, at least in terms of the level of satisfaction
The Five Generic Competitive Strategies include A) High Cost
A) Narrow Differentiation
B) No Cost provider
C) Best Margin
D) Narrow differentiation correct answers A) Narrow Differentiation (1.Broad, Low-cost
Strategy:
2.Broad Differentiation Strategy:
3. Focused Low-cost Strategy:
4.Focused Differentiation Strategy:
5.Best-cost (Hybrid) Strategy)
A Low-cost leaders basis for competitive advantage
A) Lowest possible prices for comparable products
B) a low cost / moderate price approach to gain the biggest market share
C) high buyer switching costs
D) meaningful lower overall costs than rivals on comparable products correct answers A)
Meaningful lower overall costs than rivals on comparable products
Achieving a sure-cost advantage over rivals entails A) Concentrating on the primary activities
portion of the value chain and outsourcing all support activities
B) being a first mover in pursuing backward and forward integration and controlling as much of
the industry value chain as possible.
C) selling a mostly standard product and increasing the scale of operation
D) minimizing R&D expenses and paying below average wages and salaries to conserve on labor
costs correct answers A) selling a mostly standard product and increasing the scale of operation
The culture of a company can be a cost-efficient value chain activity because it can
, A) allow for safeguarding internalized operating benefits
B) distinguishing a company's capacity integration efforts.
C) spur worker pride in productivity and continuous improvement
D) foster quality technological enhancements correct answers A) spur worker pride in
productivity and continuous improvement
The essence of a broad differentiation strategy is to
A) appeal to the high end part of the market and concentrate on providing a top of the line
product to consumers
B) incorporate a greater number of differentiating features into its product / service than rivals
C) outspent rivals on advertising and promotion in order to inform and convince buyers of the
value of its differentiating attributes
D) offer unique product attributes in ways that are valuable and appealing and that buyers
consider the cost worth it. correct answers A) offer unique product attributes in ways that are
valuable and appealing and that buyers consider the cost worth it
Opportunities to differentiate a company's product offering
A) are most reliably found in the R&D portion of the value chain
B) are typically located in the sales and marketing portion of the value chain
C) can exist in activities all along an industry's value chain
D) usually are tied to product quality and customer service correct answers A) can exist in
activities all along an industry's value chain
The objective of differentiation is to
A) offer customers something rivals can't, at least in terms of the level of satisfaction
B) develop strategies that are different from those of rivals
C) establish objectives that are measurable and meaningful when it comes to sales growth
D) offer customers a sustainable competitive advantage correct answers A) offer customers
something rivals can't, at least in terms of the level of satisfaction
