BPL 5100 Exam Questions Marking Scheme Current Update
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Course
BPL 5100
Institution
BPL 5100
BPL 5100 Exam Questions Marking Scheme Current Update
business level strategy - Answer -a strategy designed for a firm or a division of a firm that competes within a single business
Generic Strategies - Answer -basic types of business level strategies based on breadth of target market (indust...
BPL 5100 Exam Questions Marking
Scheme Current Update
business level strategy - Answer -a strategy designed for a firm or a division of a firm
that competes within a single business
Generic Strategies - Answer -basic types of business level strategies based on breadth
of target market (industrywide versus narrow market segment) and type of competitive
advantage (low cost versus uniqueness)
overall cost leadership - Answer -a firm's generic strategy based on appeal to the
industrywide market using a competitive advantage based on low cost
experience curve - Answer -the decline in unit costs of production as cumulative output
increases
competitive parity - Answer -a firm's achievement of similarity, or being "on par," with
competitors with respect to low cost, differentiation, or other strategic product
characteristic.
differentiation strategy - Answer -a firm's generic strategy based on creating differences
in the firm's product or service offering by creating something that is perceived
industrywide as unique and valued by customers
focus strategy - Answer -a firm's generic strategy based on appeal to a narrow market
segment within an industry
combination strategies - Answer -firms' integrations of various strategies to provide
multiple types of value to customers
mass customization - Answer -a firm's ability to manufacture unique products in small
quantities at low cost
profit pool - Answer -the total profits in an industry at all points along the industry's value
chain
Industry Life Cycle - Answer -the stages of introduction, growth, maturity, and decline
that typically occur over the life of an industry
introduction stage - Answer -the first stage of the industry life cycle, characterized by (1)
new products that are not known to customers,
(2) poorly defined market segments, (3) unspecified product features, (4) low sales
growth, (5) rapid technological change,
(6) operating losses,
, and (7) a need for financial support.
growth stage - Answer -the second stage of the product life cycle, characterized by
(1) strong increases in sales; (2) growing competition;
(3) developing brand recognition; and
(4) a need for financing complementary value- chain activities such as marketing, sales,
customer service, and research and development.
maturity stage - Answer -the third stage of the product life cycle, characterized by
(1) slowing demand growth, (2) saturated markets, (3) direct competition, (4) price
competition, and
(5) strategic emphasis on efficient operations.
reverse positioning - Answer -a break in industry tendency to continuously augment
products, characteristic of the product life cycle, by offering products with fewer product
attributes and lower prices
breakaway positioning - Answer -a break in industry tendency to incrementally improve
products along specific dimensions, characteristic of the product life cycle, by offering
products that are still in the industry but that are perceived by customers as being
different
decline stage - Answer -the fourth stage of the product life cycle, characterized by (1)
falling sales and profits, (2) increasing price competition, and (3) industry consolidation.
harvesting strategy - Answer -a strategy of wringing as much profit as possible out of a
business in the short to medium term by reducing costs
consolidation strategy - Answer -a firm's acquiring or merging with other firms in an
industry in order to enhance market power and gain valuable assets
turnaround strategy - Answer -a strategy that reverses a firm's decline in performance
and returns it to growth and profitability
corporate level strategy - Answer -a strategy that focuses on gaining long-term revenue,
profits and market value through managing operations in multiple businesses
diversification - Answer -the process of firms expanding their operations by entering
new businesses
related diversification - Answer -a firm entering a different business in which it can
benefit from leveraging core competencies, sharing activities, or building market power
economies of scope - Answer -cost savings from leveraging core competencies or
sharing related activities among businesses in a corporation
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