STR 581: Ch 5: The five generic competitive strategies 100 Questions with 100% Correct Answers | Verified | Updated 2024

Which of the following are types of competitive strategies? - ️️1. broad low-cost 2. broad differentiation 3. focused low-cost 4. focused differentiation 5. best-cost Which of the following is a typical course of action for companies that pursue low-cost leadership? - ️️offering lower prices than their rivals Attempts to use low-cost advantage to attack rival companies with lower product prices can result in which of the following - ️️1. retaliatory price cuts 2. a price war among several rivals 3. reduced profits A factor that has a strong influence on a company's costs is called _____. - ️️a cost driver Switching to a lower-cost item to save money is an example of _____. - ️️cost-efficient management A company's competitive strategy is an effort to do which of the following? - ️️1. ward off competitors 2. please customers 3. achieve competitive advantage What can a busin