BSG 2 Multiple Choice Exam With Complete Solution 2023

1. According to the lecture, in order for low cost provider strategy to work, firm must achieve _____ on the bases of differentiation relative to competition. a. Parity b. Customers c. Synthesis d. Actions e. None - Correct Answer-Parity When achieving competitive advantage using low cost strategy there are two major ways of achieving cost advantage, one is... a. Focus on less efficiencies b. Develop a corporate parenting advantage c. Develop unique strategic plans d. Eliminating some cost-producing activities - Correct Answer-Eliminating some costproducing activities ** the second is perform value chain activities more cost-effectively. Which of the following is NOT indicative of markets in which broad differentiation strategy works best? a. Needs and use of products are diverse b. Many ways to differentiate the product that customers value c. Rival firms allow unique differentiation approach d. Technological changes is fast paced e. All of the Above - Correct Answer-Rival firms allow unique differentiation approach When thinking about business strategy, a ____ integrates characteristics of both lowcost and differentiation strategy? a. Focusedb. Combination c. Internal d. Competitive endeavor e. External analysis - Correct Answer-Combination According to Ghemawat, ______________ is a blueprint for delivering a valuable product or service to customers in a way that increases a company's competitive advantage?