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MIS 301 Chapter 2 Question and answers verified to pass 2024 $13.49   Add to cart
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MIS 301 Chapter 2 Question and answers verified to pass 2024

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MIS 301 Chapter 2 Question and answers verified to pass 2024 Identifying competitive advantages - correct answer 1. Decreasing costs 2. Attracting new customers 3. Increasing customer loyalty 4. Increasing sales 5. Developing new products or services 6. Entering New Markets Competitive A...

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  • August 27, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • MIC 301
  • MIC 301

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MIS 301 Chapter 2
Identifying competitive advantages - correct answer ✔1. Decreasing costs
2. Attracting new customers
3. Increasing customer loyalty
4. Increasing sales
5. Developing new products or services
6. Entering New Markets


Competitive Advantage - correct answer ✔A product or service that an
organization's customers place a greater value on than similar offerings from a
competitor


The Five Forces Model - correct answer ✔1. Threat of Substitute Products or
Services
2. Buyer Power
3. Threat of New Entrants
4. Supplier Power
5. Rivalry Amongst Existing Competitors


Threat of Substitute - correct answer ✔The power of customers to purchase
alternatives. Or. High when there are many alternatives to a product or service
and low when there are few alternatives


Buyer Power - correct answer ✔The power of customers to drive down
prices. or. The ability of buyers to affect the price of an item

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