 Show Chapter 4 – Business-level strategy TRUE/FALSE 1.A business-level strategy is an integrated and coordinated set of commitments and actions the firm uses to gain a competitive advantage by exploiting core competencies in specific product markets. ANS:TPTS:1DIF:EasyREF:Introduction 2. A business-level strategy reflects a firm’s beliefs about what products and services it should offer to customers. ANS:FPTS:1DIF:ModerateREF:Introduction 3.A firm competing in a single-product market area in a single geographic location needs a corporate-level strategy to deal with product diversity and an international strategy to deal with geographic diversity. ANS:FPTS:1DIF:ModerateREF:Introduction 4.The most successful companies tend to find new ways to meet the needs of new customers in addition to finding ways to satisfy current customers. ANS:TPTS:1DIF:ModerateREF: Customers: their relationship with business-level strategies 5.The probability of successful competition increases when a firm carefully integrates internet technology with its strategy, rather than using internet technology on a ‘stand-alone basis’. ANS:TPTS:1DIF:ModerateREF:Effectively managing relationships with customers 6. The reach dimension of relationships with customers is concerned with their buying power. ANS:FPTS:1DIF:ModerateREF:Reach, richness and affiliation 7.The richness dimension of relationships with customers is concerned with the depth and detail of the one-way flow of information between the firm and the customer. ANS: FPTS:1DIF:ModerateREF:Reach, richness and affiliation 8.The affiliation dimension of relationships with customers is concerned with developing relationships with third-party affiliates who can best serve customers. ANS:FPTS:1DIF:ModerateREF:Reach, richness and affiliation 9.Dividing customers into groups based on their needs is called market segmentation, which is a process that clusters people with similar needs into individual and identifiable groups. ANS:TPTS:1DIF:ModerateREF:Who: determining the customers to serve 10.Competitive scope and competitive positioning are the two dimensions that help define the five business-level strategies. 1 Businesses without a competitive advantage are not likely to earn more than "normal" profits in the long run. Normal profits are 2 Primary value chain activities that involve the effective layout of receiving dock operations (inbound logistics) and support value chain activities that include expertise in process engineering (technology development) characterize what generic strategy? 3 Which of the following is false regarding how a differentiation strategy can help a firm to improve its competitive position vis à vis Porter's five forces? 4 A narrow market focus is to a differentiation-based strategy as a 5 The total profits in an industry at all points along the industry's value chain is called the 6 The emphasis on product design is very high, the intensity of competition is low, and the market growth rate is low in the ______ stage of the industry life cycle. 7 In the _______ stage of the industry life cycle, there are numerous segments, competition is very intense, and the emphasis on process design is high. 8 As markets mature 9 The most probable time to pursue a harvest strategy is in a situation of What is differentiation strategy quizlet?What is the differentiation strategy? A generic strategy that attempts to convince customers to pay a premium price for its good or services by providing unique and desirable features. Using a differentiation strategy means that a firm is competing based on uniqueness, rather than price.
What is the goal of differentiation strategy?A differentiation strategy is an approach businesses develop by providing customers with something unique, different and distinct from items their competitors may offer in the marketplace. The main objective of implementing a differentiation strategy is to increase competitive advantage.
Do differentiation strategies increase competition?Companies gain a competitive advantage and market share through product differentiation. Product differentiation increases market competition and controls prices for consumers.
Which of the following is a risk of a differentiation strategy?However, one of the biggest differentiation strategy risks that many companies are facing is the possibility to lose your competitive advantage if it isn't strong enough.
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Which of the following is false regarding how a differentiation strategy can help a firm
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