WPC 470 Part 2 Exam Questions With Correct
Answers
Which |of |the |following |represents |a |risk |for |companies |pursuing |a |cost |leadership |strategy? |- |
CORRECT |ANSWER✔✔-Competitors' |innovations |resulting |in |their |ability |to |drive |costs |lower
Many |companies |pursue |an |integrated |cost |leadership/differentiation |strategy, |working |to |
lower |cost |structures |while |also |enhancing |their |products |and |services. |To |successfully |pursue |
this |strategy, |companies |could: |- |CORRECT |ANSWER✔✔-invest |in |developing |total |quality |
management |(TQM) |systems |and |improving |marketing |effectiveness.
Which |of |the |following |strategies |could |be |implemented |to |improve |a |company's |richness |in |
its |customer |relationships? |- |CORRECT |ANSWER✔✔-Satisfaction |surveys |following |the |arrival |
of |a |produc
The |effectiveness |of |a |business-level |strategy |is |contingent |on: |- |CORRECT |ANSWER✔✔-the |
opportunities |and |threats |in |a |firm's |external |environment |and |the |strengths |and |weaknesses |
of |a |firm's |resources.
Which |of |the |following |is |an |example |of |a |subscription |business |model? |- |CORRECT |
ANSWER✔✔-We |Craft |Box, |which |delivers |monthly |craft |supplies |and |instructions |for |children |
for |about |$25 |per |month
To |be |successful, |a |firm |utilizing |an |integrated |cost |leadership/differentiation |strategy |must: |- |
CORRECT |ANSWER✔✔-increase |the |number |of |primary |value |chain |activities |and |support |
functions |in |which |it |becomes |competent
A |differentiation |strategy |is |one |in |which |a |firm: |- |CORRECT |ANSWER✔✔-creates |products |that
|have |features |that |customers |value |and |are |willing |to |pay |a |higher |price |for
, An |industry-leading |technology |firm |utilizing |a |differentiation |strategy |has |decided |to |increase |
prices |on |its |patented |product |to |bolster |profit |margins |and |deliver |a |higher |return |to |
investors. |Consider |the |impact |of |this |decision |in |light |of |the |forces |of |competition. |Which |of |
the |following |situations |should |the |firm |prioritize? |- |CORRECT |ANSWER✔✔-Rivalry |with |
existing |competitors
A |cost |leadership |strategy |is |one |in |which: |- |CORRECT |ANSWER✔✔-a |company |uses |process |
innovations, |such |as |advanced |production |or |distribution |methods, |to |operate |efficiently
Which |of |the |following |might |be |an |alternative |definition |of |business-level |strategy? |- |
CORRECT |ANSWER✔✔-A |plan |for |how |the |company |will |compete |in |its |industry |against |its |
rivals |to |achieve |a |competitive |advantage
DOS, |a |leader |in |the |computer |industry, |implemented |a |new |strategic |action |to |offer |a |video |
streaming |service |to |consumers. |The |move |has |proven |to |be |successful. |How |are |competitors |
likely |to |respond? |- |CORRECT |ANSWER✔✔-They |are |likely |to |imitate |the |action |quickly.
The |number |of |markets |with |which |a |firm |and |a |competitor |are |jointly |involved |and |the |
degree |of |importance |of |the |individual |markets |to |each |is |referred |to |as: |- |CORRECT |
ANSWER✔✔-market |commonality
Which |of |the |following |is |an |example |of |multimarket |competition? |- |CORRECT |ANSWER✔✔-
Company |A |makes |tomato |sauce |sold |to |consumers |in |grocery |stores |and |to |restaurants. |
Company |B |sells |tomato |sauce |to |consumers |in |grocery |stores.
A |new |family-owned |organic |grocery |store |has |been |successful |since |its |grand |opening |nearly |
a |year |ago. |With |little |competition |in |the |area, |the |organic |grocery |store |has |been |particularly |
successful |in |selling |organic |food |to |consumers. |The |grocer |has |just |found |out |that |Whole |
Foods |will |be |starting |construction |on |a |new |store |nearby. |The |grocery |store |feels |that |its |
family |ownership |and |locally |grown |food |offerings |give |it |a |position |in |which |to |take |action |
against |the |developing |Whole |Foods. |However, |as |a |small |business, |the |organic |grocery |store |
Answers
Which |of |the |following |represents |a |risk |for |companies |pursuing |a |cost |leadership |strategy? |- |
CORRECT |ANSWER✔✔-Competitors' |innovations |resulting |in |their |ability |to |drive |costs |lower
Many |companies |pursue |an |integrated |cost |leadership/differentiation |strategy, |working |to |
lower |cost |structures |while |also |enhancing |their |products |and |services. |To |successfully |pursue |
this |strategy, |companies |could: |- |CORRECT |ANSWER✔✔-invest |in |developing |total |quality |
management |(TQM) |systems |and |improving |marketing |effectiveness.
Which |of |the |following |strategies |could |be |implemented |to |improve |a |company's |richness |in |
its |customer |relationships? |- |CORRECT |ANSWER✔✔-Satisfaction |surveys |following |the |arrival |
of |a |produc
The |effectiveness |of |a |business-level |strategy |is |contingent |on: |- |CORRECT |ANSWER✔✔-the |
opportunities |and |threats |in |a |firm's |external |environment |and |the |strengths |and |weaknesses |
of |a |firm's |resources.
Which |of |the |following |is |an |example |of |a |subscription |business |model? |- |CORRECT |
ANSWER✔✔-We |Craft |Box, |which |delivers |monthly |craft |supplies |and |instructions |for |children |
for |about |$25 |per |month
To |be |successful, |a |firm |utilizing |an |integrated |cost |leadership/differentiation |strategy |must: |- |
CORRECT |ANSWER✔✔-increase |the |number |of |primary |value |chain |activities |and |support |
functions |in |which |it |becomes |competent
A |differentiation |strategy |is |one |in |which |a |firm: |- |CORRECT |ANSWER✔✔-creates |products |that
|have |features |that |customers |value |and |are |willing |to |pay |a |higher |price |for
, An |industry-leading |technology |firm |utilizing |a |differentiation |strategy |has |decided |to |increase |
prices |on |its |patented |product |to |bolster |profit |margins |and |deliver |a |higher |return |to |
investors. |Consider |the |impact |of |this |decision |in |light |of |the |forces |of |competition. |Which |of |
the |following |situations |should |the |firm |prioritize? |- |CORRECT |ANSWER✔✔-Rivalry |with |
existing |competitors
A |cost |leadership |strategy |is |one |in |which: |- |CORRECT |ANSWER✔✔-a |company |uses |process |
innovations, |such |as |advanced |production |or |distribution |methods, |to |operate |efficiently
Which |of |the |following |might |be |an |alternative |definition |of |business-level |strategy? |- |
CORRECT |ANSWER✔✔-A |plan |for |how |the |company |will |compete |in |its |industry |against |its |
rivals |to |achieve |a |competitive |advantage
DOS, |a |leader |in |the |computer |industry, |implemented |a |new |strategic |action |to |offer |a |video |
streaming |service |to |consumers. |The |move |has |proven |to |be |successful. |How |are |competitors |
likely |to |respond? |- |CORRECT |ANSWER✔✔-They |are |likely |to |imitate |the |action |quickly.
The |number |of |markets |with |which |a |firm |and |a |competitor |are |jointly |involved |and |the |
degree |of |importance |of |the |individual |markets |to |each |is |referred |to |as: |- |CORRECT |
ANSWER✔✔-market |commonality
Which |of |the |following |is |an |example |of |multimarket |competition? |- |CORRECT |ANSWER✔✔-
Company |A |makes |tomato |sauce |sold |to |consumers |in |grocery |stores |and |to |restaurants. |
Company |B |sells |tomato |sauce |to |consumers |in |grocery |stores.
A |new |family-owned |organic |grocery |store |has |been |successful |since |its |grand |opening |nearly |
a |year |ago. |With |little |competition |in |the |area, |the |organic |grocery |store |has |been |particularly |
successful |in |selling |organic |food |to |consumers. |The |grocer |has |just |found |out |that |Whole |
Foods |will |be |starting |construction |on |a |new |store |nearby. |The |grocery |store |feels |that |its |
family |ownership |and |locally |grown |food |offerings |give |it |a |position |in |which |to |take |action |
against |the |developing |Whole |Foods. |However, |as |a |small |business, |the |organic |grocery |store |
