BSG Exam 2 (Answered) Complete Solution
Verified
1. The two biggest factors that distinguish one competitive strategy
from another boil down to - CORRECT ANSWER>>Whether a
company's market target is broad or narrow and whether the company
is pursuing a competitive advantage linked to low costs or
differentiation
2. Which of the following is not one of the five generic competitive
strategy options? - CORRECT ANSWER>>A superior customer
service strategy
The 5 generic ones are: best-cost provider, focused differentiation,
low-cost provider, broad differentiation
3. A low-cost provider's basis for competitive advantage is - CORRECT
ANSWER>>Lower overall costs than rivals—but not necessarily the
absolutely lowest possible cost because a product offering that is too
frills-free can undermine its attractiveness to buyers despite being
cheaper priced
4. The two major avenues for achieving a cost advantage over rivals
include - CORRECT ANSWER>>Revamping the firm's value chain to
eliminate or bypass some cost-producing activities and/or performing
value chain activities more cost-effective than rivals
5. Which of the following is NOT one of the keys to being a successful
low-cost provider? - CORRECT ANSWER>>Being greedy and trying to
charge too high a price
6. The essence of a broad differentiation strategy is to - CORRECT
ANSWER>>Offer unique product attributes that a wide range of buyers
find appealing and worth paying for
7. Which one of the following is not among the options or possibilities
for managing value chain activities in ways that create desirable
, differentiating attributes, thereby enhancing the value delivered to
customers and better differentiating the company's product/service
offering from rivals' offerings? - CORRECT ANSWER>>Striving to
ensure a corporate diversity policy is introduced with effective controls
Eliminate product features that might have market appeal, but
excessively increase production costs
Shifting to the use of technologies and/or information systems that
bypass the need to perform certain value chain activities
8. Broad differentiation strategies tend to work best in market
circumstances where - CORRECT ANSWER>>There are many ways
to differentiate the product or service that have value to buyers
9. What sets focused (or market niche) strategies apart from low-cost
leadership and broad differentiation strategies is - CORRECT
ANSWER>>their concentrated attention on a narrow piece of the
overall market.
10. A company achieves best-cost provider status by - CORRECT
ANSWER>>Using its resources and capabilities to incorporate
attractive upscale attributes at a lower cost than those rivals with
comparable upscale product offerings
11. The target market of a best-cost provider is - CORRECT
ANSWER>>Value-conscious buyers
12. A company's menu of strategic choices to supplement its decision
to employ one of the five generic competitive strategies does NOT
include - CORRECT ANSWER>>whether to employ a preemptive
strike type of green ocean strategy.
13. A blue ocean type of offensive strategy - CORRECT
ANSWER>>Involves abandoning efforts to beat out competitors in
existing markets and, instead, inventing a new industry or distinctive
market segment that renders existing competitors largely irrelevant and
allows a company to create and capture altogether new demand
Verified
1. The two biggest factors that distinguish one competitive strategy
from another boil down to - CORRECT ANSWER>>Whether a
company's market target is broad or narrow and whether the company
is pursuing a competitive advantage linked to low costs or
differentiation
2. Which of the following is not one of the five generic competitive
strategy options? - CORRECT ANSWER>>A superior customer
service strategy
The 5 generic ones are: best-cost provider, focused differentiation,
low-cost provider, broad differentiation
3. A low-cost provider's basis for competitive advantage is - CORRECT
ANSWER>>Lower overall costs than rivals—but not necessarily the
absolutely lowest possible cost because a product offering that is too
frills-free can undermine its attractiveness to buyers despite being
cheaper priced
4. The two major avenues for achieving a cost advantage over rivals
include - CORRECT ANSWER>>Revamping the firm's value chain to
eliminate or bypass some cost-producing activities and/or performing
value chain activities more cost-effective than rivals
5. Which of the following is NOT one of the keys to being a successful
low-cost provider? - CORRECT ANSWER>>Being greedy and trying to
charge too high a price
6. The essence of a broad differentiation strategy is to - CORRECT
ANSWER>>Offer unique product attributes that a wide range of buyers
find appealing and worth paying for
7. Which one of the following is not among the options or possibilities
for managing value chain activities in ways that create desirable
, differentiating attributes, thereby enhancing the value delivered to
customers and better differentiating the company's product/service
offering from rivals' offerings? - CORRECT ANSWER>>Striving to
ensure a corporate diversity policy is introduced with effective controls
Eliminate product features that might have market appeal, but
excessively increase production costs
Shifting to the use of technologies and/or information systems that
bypass the need to perform certain value chain activities
8. Broad differentiation strategies tend to work best in market
circumstances where - CORRECT ANSWER>>There are many ways
to differentiate the product or service that have value to buyers
9. What sets focused (or market niche) strategies apart from low-cost
leadership and broad differentiation strategies is - CORRECT
ANSWER>>their concentrated attention on a narrow piece of the
overall market.
10. A company achieves best-cost provider status by - CORRECT
ANSWER>>Using its resources and capabilities to incorporate
attractive upscale attributes at a lower cost than those rivals with
comparable upscale product offerings
11. The target market of a best-cost provider is - CORRECT
ANSWER>>Value-conscious buyers
12. A company's menu of strategic choices to supplement its decision
to employ one of the five generic competitive strategies does NOT
include - CORRECT ANSWER>>whether to employ a preemptive
strike type of green ocean strategy.
13. A blue ocean type of offensive strategy - CORRECT
ANSWER>>Involves abandoning efforts to beat out competitors in
existing markets and, instead, inventing a new industry or distinctive
market segment that renders existing competitors largely irrelevant and
allows a company to create and capture altogether new demand
