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8/22/24, 8:45 AM EXAM 2 REVIEW (CH. 5,6,7,8) Flashcards | QuizletSocial Science Business
EXAM 2 REVIEW (CH. 5,6,7,8)
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Practice questions for this set
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Creating permanent arrangements between the domestic and foreign firms
Choose matching term
A pitfall to avoid in pursuing a differentiation strategy is trying to differentiate on the basis of
1
attributes or features that are easily and quickly copied.
Vertical integration strategies extend a company's competitive scope within the same industry by
2
expanding its operations across multiple segments or stages of the industry value chain.
The marketing emphasis of a company pursuing a focused low-cost provider strategy usually is to
3
tout the lack of frills and extras.
Which of the following is NOT an advantage of strategic alliances, joint ventures, and cooperative
4
agreements between domestic and foreign firms?
Don't know?
Terms in this set (40)
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, 8/22/24, 8:45 AM EXAM 2 REVIEW (CH. 5,6,7,8) Flashcards | Quizlet
The biggest and most important differences whether a company's market target is broad or narrow and whether the company is
among the competitive strategies of pursuing a competitive advantage linked to low cost or differentiation.
different companies boil down to:�
A pitfall to avoid in pursuing a differentiation TRUE
strategy is trying to differentiate on the basis
of attributes or features that are easily and
quickly copied.
An automotive manufacturer sells a limited A focused differentiation strategy
number of high-end, custom-built cars, using
technologically advanced power systems.
What strategy is the manufacturer using to
gain competitive advantage?�
Which of the following generic types of A strategy that is customized to fit the macro-environment and industry and employs
competitive strategies is typically the "best" resources and capabilities that rivals have trouble duplicating
strategy for a company to employ?�
The target market of a best-cost provider is TRUE
brand-conscious buyers.
Domino's Pizza has a well-known slogan: Built a unique customer value proposition
"We'll deliver in 30 minutes or less, or it's
free!" With it what has the pizza maker
achieved?�
An example of how companies can revamp have suppliers locate their plants close to companies' own facilities.
their value chain to reduce costs is to:�
The marketing emphasis of a company FALSE
pursuing a focused low-cost provider
strategy usually is to tout the lack of frills and
extras.
A set of factors (analogous to cost drivers) that are particularly effective in having a
What are value drivers?�
strong differentiation effect
The underlying criteria of a best-cost TRUE
provider strategy usually is found in the
ability of a company to offer better goods at
attractive prices.
Strategic offensives should, as a general rule, exploiting a company's strongest competitive assets�its most valuable resources and
be based on:� capabilities.
Being the final competitor to market a next- FALSE
generation product so as to guarantee the
product is operationally sound is a principal
offensive strategy option
involves abandoning efforts to beat out competitors in existing markets and instead
A blue-ocean strategy:� invent a new industry or new market segment that renders existing competitors largely
irrelevant and allows a company to create and capture altogether new demand.
In which of the following instances is being a When markets are slow to accept the innovative product offering of a first-mover, and
first-mover NOT particularly advantageous? fast followers possess sufficient resources and marketing muscle to overtake a first
� mover
Strategic alliances are collaborative formal TRUE
arrangements where two or more companies
join forces and agree to work cooperatively
toward some strategically relevant objective.
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