UARK SEVI 3013 Ryan Cooper Exam 2 questions
well answered already passed
1. business a strategy designed for a firm or a division of a firm that competes within
level
strategy single business
2. generic basic types of business level strategies based on breadth of target market
strate- gies (indus- trywide versus narrow market segment) and type of competitive
advantage (low cost versus uniqueness)
3. overal cost
lead- ership a firm's generic strategy based on appeal to the industrywide market
using a competitive advantage based on low cost
4. overall cost
lead- ership
requires a tight -aggressive construction of eflcient-scale facilities
set of in- -vigorous pursuit of cost reductions from experience
terrelated -tight cost and overhead control
tactics that
include: -avoidance of marginal customer accounts
-cost minimization in all activities in the firm's value chain, such as R&D,
service, sales force and advertising
5. experience curve the decline in unit costs of production as cumulative output increases
6. experience how business "learns" to lower costs as it gains experience with
curve refers
to... production processes
7. competitive a firm's achievement of similarity, or being "on par" with competitors with
pari- ty respect to low cost, ditterentiation, or other strategic product characteristic
8. to gener-
competitive parity on the basis of ditterentiation relative to competitors
ate above-av-
erage perfor-
mance, a firm
fol- lowing an
overall cost
leadership
position must
at- tain...
1/
21
,UARK SEVI 3013 Ryan Cooper Exam 2 questions
well answered already passed
9. support activities firm infrastructure, human resource management, technology
development, pro- curement
10. primary activities inbound logistics, operations, outbound logistics, marketing and sales,
service
11. potential -too much focus on one or a few value-chain activities
pitfalls of
overall cost -increase in the cost of the inputs on which the advantage is based
leadership strate- - a strategy that can be imitated too easily
gies: -a lack of parity on ditterentiation
-reduced flexibility
-obsolescence of the basis of cost advantage
12. differentiatio
n strategy a firm's generic strategy based on creating ditterences in the firm's
product or service ottering by creating something that is perceived
13. differentiatio industrywide as unique and valued by customers
n can take
many forms: -Prestige or brand image
-Quality
-Technology
-Innovation
-Features
14. potential
pitfalls of -Customer service
differentiation -Dealer network
strategies:
-uniqueness that is not valuable
-too much ditterentiation
-too high a price premium
-ditterentiation that is easily imitated
-dilution of brand identification through product line extensions
-perceptions of ditterentiation may vary between buyers and sellers
15. focus strategy a firm's generic strategy based on appeal to a narrow market
2/
21
,UARK SEVI 3013 Ryan Cooper Exam 2 questions
well answered already passed
segment within an industry
3/
21
well answered already passed
1. business a strategy designed for a firm or a division of a firm that competes within
level
strategy single business
2. generic basic types of business level strategies based on breadth of target market
strate- gies (indus- trywide versus narrow market segment) and type of competitive
advantage (low cost versus uniqueness)
3. overal cost
lead- ership a firm's generic strategy based on appeal to the industrywide market
using a competitive advantage based on low cost
4. overall cost
lead- ership
requires a tight -aggressive construction of eflcient-scale facilities
set of in- -vigorous pursuit of cost reductions from experience
terrelated -tight cost and overhead control
tactics that
include: -avoidance of marginal customer accounts
-cost minimization in all activities in the firm's value chain, such as R&D,
service, sales force and advertising
5. experience curve the decline in unit costs of production as cumulative output increases
6. experience how business "learns" to lower costs as it gains experience with
curve refers
to... production processes
7. competitive a firm's achievement of similarity, or being "on par" with competitors with
pari- ty respect to low cost, ditterentiation, or other strategic product characteristic
8. to gener-
competitive parity on the basis of ditterentiation relative to competitors
ate above-av-
erage perfor-
mance, a firm
fol- lowing an
overall cost
leadership
position must
at- tain...
1/
21
,UARK SEVI 3013 Ryan Cooper Exam 2 questions
well answered already passed
9. support activities firm infrastructure, human resource management, technology
development, pro- curement
10. primary activities inbound logistics, operations, outbound logistics, marketing and sales,
service
11. potential -too much focus on one or a few value-chain activities
pitfalls of
overall cost -increase in the cost of the inputs on which the advantage is based
leadership strate- - a strategy that can be imitated too easily
gies: -a lack of parity on ditterentiation
-reduced flexibility
-obsolescence of the basis of cost advantage
12. differentiatio
n strategy a firm's generic strategy based on creating ditterences in the firm's
product or service ottering by creating something that is perceived
13. differentiatio industrywide as unique and valued by customers
n can take
many forms: -Prestige or brand image
-Quality
-Technology
-Innovation
-Features
14. potential
pitfalls of -Customer service
differentiation -Dealer network
strategies:
-uniqueness that is not valuable
-too much ditterentiation
-too high a price premium
-ditterentiation that is easily imitated
-dilution of brand identification through product line extensions
-perceptions of ditterentiation may vary between buyers and sellers
15. focus strategy a firm's generic strategy based on appeal to a narrow market
2/
21
,UARK SEVI 3013 Ryan Cooper Exam 2 questions
well answered already passed
segment within an industry
3/
21
