SEVI 3013 EXAM 2 questions and
answers graded A+ updated
A firm's ability to manufacture unique products in small quantities at low cost is known as -
correct answer ✔✔mass customization
Which of the following are pitfalls of using a focus strategy? - correct answer ✔✔New
competitors may enter lucrative niche markets.
Cost advantages for the focus segment may become eroded over time.
Companies may become too focused to satisfy buyer needs.
Companies can use combination strategies with technology to - correct answer ✔✔link their
value chain with the value chains of their customers and suppliers
Michael Porter presented three ______ strategies to achieve competitive advantage by
overcoming the five forces. - correct answer ✔✔generic
Research has found that companies that ______. - correct answer ✔✔use multiple forms of
competitive advantage (e.g., cost leadership and differentiation) outperform those that do not
Which of the following can erode a company's competitive advantage? (Check all that apply.) -
correct answer ✔✔globalized trade
competitors' actions
technological advancements
Name the stages of the industry life cycle in the correct order, with the first stage at the top. -
correct answer ✔✔Introduction
, Growth
Maturity
Decline
Which of the following are characteristics of the growth stage? - correct answer ✔✔growing
competition
developing brand recognition
increasing sales revenues
financing complementary value-chain activities
Which of the following are goals of reverse positioning? - correct answer ✔✔Allow a product to
assume a new competitive position in its category.
Move a product from maturity backward into a growth position.
The ability of some firms to manufacture unique products in relatively small quantities at lower
costs is due to advances in ______ technologies. - correct answer ✔✔manufacturing
information
Revenues increase during the _______ stage of the industry life cycle as new customers try the
product and an ever-increasing number of satisfied customers make repeat purchases - correct
answer ✔✔Growth
The ______ stage is the third stage of the product life cycle. - correct answer ✔✔Maturity
Which of the following are potential pitfalls of using a focus strategy? - correct answer ✔✔An
erosion of cost advantages within the narrow segment as competitors copy the value-chain
Competition from new entrants due to low barriers to entry
A product or service that becomes too narrow to satisfy buyer needs
answers graded A+ updated
A firm's ability to manufacture unique products in small quantities at low cost is known as -
correct answer ✔✔mass customization
Which of the following are pitfalls of using a focus strategy? - correct answer ✔✔New
competitors may enter lucrative niche markets.
Cost advantages for the focus segment may become eroded over time.
Companies may become too focused to satisfy buyer needs.
Companies can use combination strategies with technology to - correct answer ✔✔link their
value chain with the value chains of their customers and suppliers
Michael Porter presented three ______ strategies to achieve competitive advantage by
overcoming the five forces. - correct answer ✔✔generic
Research has found that companies that ______. - correct answer ✔✔use multiple forms of
competitive advantage (e.g., cost leadership and differentiation) outperform those that do not
Which of the following can erode a company's competitive advantage? (Check all that apply.) -
correct answer ✔✔globalized trade
competitors' actions
technological advancements
Name the stages of the industry life cycle in the correct order, with the first stage at the top. -
correct answer ✔✔Introduction
, Growth
Maturity
Decline
Which of the following are characteristics of the growth stage? - correct answer ✔✔growing
competition
developing brand recognition
increasing sales revenues
financing complementary value-chain activities
Which of the following are goals of reverse positioning? - correct answer ✔✔Allow a product to
assume a new competitive position in its category.
Move a product from maturity backward into a growth position.
The ability of some firms to manufacture unique products in relatively small quantities at lower
costs is due to advances in ______ technologies. - correct answer ✔✔manufacturing
information
Revenues increase during the _______ stage of the industry life cycle as new customers try the
product and an ever-increasing number of satisfied customers make repeat purchases - correct
answer ✔✔Growth
The ______ stage is the third stage of the product life cycle. - correct answer ✔✔Maturity
Which of the following are potential pitfalls of using a focus strategy? - correct answer ✔✔An
erosion of cost advantages within the narrow segment as competitors copy the value-chain
Competition from new entrants due to low barriers to entry
A product or service that becomes too narrow to satisfy buyer needs
