GLO-BUS Exam 2 2022/2023 with 100% correct answers

What is a cost driver? a factor that has a strong influence on a company's costs (asset or activity-based) What is a Value Driver? Quality Control Processes Product features and performance Customer Service Production R&D Technology and Innovation Input Quality Employee skill, training, experience Sales and Marketing What is a Low-Cost Provider? Striving to achieve lower overall costs than rivals on products that attract a broad spectrum of buyers What is Broad Differentiation? Differentiating your product to appeal to a broader audience What is Focused Low-Cost? Concentrating on a narrow price-sensitive buyer segment and on costs to offer a lower-priced products What is Focused Differentiation? Concentrating on a narrow buyer segment by meeting specific tastes and requirements of niche members What is Best Cost Provider? Giving customers more value for the money by offering upscale product attributes at a lower cost than rivals What is Blue-Ocean Strategy? offers growth in revenues and profit by discovering or inventing new industry segments that create an altogether new demand What is First Mover? a firm that takes an initial competitive action in order to build or defend its competitive advantages or to improve its market position What is Fast Follower? rapid market evolution allows companies to leapfrog a first mover's products with more attractive next-version products.