A) technological change is fast-paced and competition revolves around rapidly evolving product features.
B) buyers' needs are homogeneous.
C) many rival firms are also pursuing a differentiation approach.
D) there are few other ways to make a product unique to buyers.
E) firms have ample excess cash to invest in R&D activities.
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A) sell a product with the best cost at the best price.
B) have the best cost (as compared to rivals) for each activity in the industry's value chain.
C) provide buyers with the best attributes at the best cost.
D) incorporate attractive or upscale attributes into its product offering at a lower cost than rivals.
E) do a better job than rivals of adopting the best operating practices.
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A) having the best value chain in the industry.
B) its brand name reputation.
C) its capability to incorporate upscale or attractive attributes into its product offerings at lower costs than rivals.
D) a distinctive competence in delivering top-notch quality and customer service.
E) a distinctive competence in supply chain management.
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A) its market and competitive environment, a defensible niche, and a homogeneous strategic group.
B) establishing a central theme for how the company will endeavor to outcompete its rivals and engage complementors with cooperative strategies.
C) having resources and capabilities that rivals have trouble duplicating and for which there are no good substitutes.
D) defining its differences in terms of product line, production emphasis, location, joint ventures, and strategic alliances.
E) defining its differences in terms of marketing emphasis, strategic group intracompetition, and the means of maintaining strategy.
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A) the likelihood that a focused company will become so cost efficient it will achieve excessive profits.
B) the potential for the preferences and needs of niche members to shift over time toward mainstream provider product attributes.
C) the potential for the niche to become so attractive it will not attract new competitors thereby providing excessive market segment profits.
D) the potential for technological advances to favor only low-cost providers.
E) the likelihood that a focused company will become so cost inefficient it will achieve excessive profits.
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A) have out-managed rivals in finding ways to perform value chain activities more cost-effectively.
B) be considering exiting the current product market and use their competitive low-cost strength to gain a competitive advantage in other product arenas.
C) be favorites to win the game of strategy in the long run.
D) understand that driving costs to the lowest possible level is the only way to sell cheap products to consumers.
E) understand that they have lower bargaining power with suppliers than rivals who employ a different strategy.
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A) a rise in the perceived value of the differentiated good, giving the differentiator a clear competitive advantage over the average rival.
B) a rise in the price of the differentiated good, giving the differentiator a clear value advantage over the average rival.
C) no change in the price of the differentiated good, giving the differentiator a clear value advantage over the average rival.
D) no change in the perceived value of the differentiated good, giving the differentiator a clear competitive advantage over the average rival.
E) a drop in the price of the differentiated good, giving the differentiator a clear competitive advantage over the average rival.
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A) how they go about building a brand name image that buyers trust and whether they are a risk-taker or risk-avoider.
B) the different ways the companies try to cope with the five competitive forces.
C) whether a company's market target is broad or narrow and whether the company is pursuing a competitive advantage linked to low cost or differentiation.
D) the kinds of actions companies take to improve their competitive assets and reduce their competitive liabilities.
E) the relative emphasis they place on offensive versus defensive strategies.
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A) seeks to be the low-cost provider in the largest and fastest growing (or best) market segment.
B) tries to have the best cost (as compared to rivals) for each activity in the industry's value chain.
C) tries to outcompete a low-cost provider by attracting buyers on the basis of charging the best price.
D) seeks to deliver superior value to buyers by satisfying their expectations on key attributes and beating rivals in meeting customer expectations on price.
E) seeks to achieve the best costs by using the best operating practices and incorporating the best features and attributes.
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A) creating product features that appeal to a wide range of buyers.
B) improving customer service or add extra services.
C) seeking out high-quality inputs.
D) emphasizing human resource management activities that improve the skills, expertise, and knowledge of company personnel.
E) utilizing just-in-time inventories and made-to-order products when customer demand rises and that buyers consider worth the cost.
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A) building strong customer loyalty and locking customers into its product because customers have high switching costs.
B) giving the firm a very appealing brand image.
C) putting a firm in the best position to win the business of price-sensitive customers and earn profits by setting the floor on market price.
D) putting the company in a strong position to be more profitable than companies pursuing a differentiation strategy.
E) greatly reducing the strong bargaining power of rivals with the key distributors.
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A) overly aggressive price-cutting.
B) setting the industry's price ceiling to capture volume gains and achieve economies of scale.
C) relying on an approach to reduce costs that can be easily copied.
D) becoming too fixated on cost reduction.
E) having the basis for the firm's cost advantage undermined by cost-saving technological breakthroughs that can be readily adopted by rival firms.
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The keys to sustaining a focused low-cos...View Answer
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A cost driver is a factor having a stron...View Answer
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A) chance that niche customers will bargain more aggressively for good deals than customers in the overall marketplace.
B) potential for the preferences and needs of niche members to shift over time toward product attributes desired by buyers in the mainstream portion of the market.
C) potential for the segment to be highly vulnerable to economic cycles.
D) potential for segment growth to race beyond the production or service capabilities of incumbent firms.
E) potential for the segment to become too specialized for other multisegmented rivals to enter.
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A) there are many ways to achieve product differentiation that buyers find appealing.
B) buyers use the product in a variety of different ways and have high switching costs in changing from one seller's product to another.
C) the offerings of rival firms are essentially identical, standardized, commodity-like products.
D) entry barriers are high and competition from substitutes is relatively weak.
E) the market is composed of many distinct segments with varying buyer needs and expectations.
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A) chance that niche customers will bargain more aggressively for good deals than customers in the overall marketplace.
B) chance that competitors will find effective ways to match the focused firm's capabilities in serving the target market.
C) potential for the segment to be highly vulnerable to economic cycles.
D) potential for the segment to become too specialized for other multisegmented rivals to enter.
E) inability of a company to compete industry-wide.
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The best-cost provider strategy gives cu...View Answer
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The marketing emphasis of a low-cost pro...View Answer
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