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GEB exam 3 Questions Solved 100%| Already Passed
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GEB exam 3 Questions Solved 100%|Already Passed
When does best cost strategy work best? - ✔✔product differentiation is the norm and many
buyers are also sensitive to price and value
Best cost strategy risks - ✔✔getting squeezed or stuck in the middle
focus strategies - ✔✔- concentrate attention on a narrow piece of the total
market - try to do a better job of serving buyers in the target market niche than rivals
what are the 2 approaches of focus strategies? - ✔✔1. focus low-
cost 2. focus differentation
focus low cost strategy - ✔✔achieve lower costs in serving a market niche
focus differentiation strategy - ✔✔offer niche members superior products or services tailored to
their unique preference
focus strategies attractiveness - ✔✔- segment is big enough to be profitable, has. good growth
potential, is being ignored by industry leaders, not over crowded(few competitors in niche)
- industry has many niches and segments, it is costly to compete across multiple segments
- firm lacks resources to compete broadly across industry
Focus strategies risks - ✔✔niches can quickly erode, entry of major competitors, niche member
preferences can shift over time
, strategic alliance - ✔✔a formal agreement between two or more separate companies in which
they agree to work collaboratively towards some strategically relevant objective
joint venture - ✔✔a type of alliance where a new entity is formed
What can strategic alliances be used for? - ✔✔- lower costs
- deliver more value to customers
- build core competencies and competitive advantage
- remember a resource deficiency or competitive weakness
- help defend against a competitive threat
- increase bargaining power over buyers and suppliers
- open new markets
- speed development of new technologies and innovations
merger - ✔✔combination and pooling of equals
acquisition - ✔✔when one firm absorbs another
horizontal integration - ✔✔combining the operations firms within the same product or
service market
How can mergers and acquisitions can be used? - ✔✔to expand presence in current industry
Result of mergers and acquisitions - ✔✔- cost saving and efficiencies
- wider geographic coverage
- extending the company's business into new product categories
- gaining quick access to new technologies or other resources and capabilities
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