Exam (elaborations)
BSG Exam 2 With 100% Correct And Verified Answers
- Course
- Institution
BSG Exam 2 With 100% Correct And Verified Answers
[Show more]
Content preview
BSG Exam 2 With 100% Correct AndVerified Answers
1. The two biggest factors that distinguish one competitive strategy from
another boil down to - Correct Answer-Whether a company's market target
is broad or narrow and whether the company is pursuing a competitive
advantage linked to low costs or differentiation
2. Which of the following is not one of the five generic competitive strategy
options? - Correct Answer-A superior customer service strategy
The 5 generic ones are: best-cost provider, focused differentiation, low-
cost provider, broad differentiation
3. A low-cost provider's basis for competitive advantage is - Correct
Answer-Lower overall costs than rivals—but not necessarily the
absolutely lowest possible cost because a product offering that is too
frills-free can undermine its attractiveness to buyers despite being
cheaper priced
4. The two major avenues for achieving a cost advantage over rivals
include - Correct Answer-Revamping the firm's value chain to eliminate or
bypass some cost-producing activities and/or performing value chain
activities more cost-effective than rivals
5. Which of the following is NOT one of the keys to being a successful low-
cost provider? - Correct Answer-Being greedy and trying to charge too
high a price
6. The essence of a broad differentiation strategy is to - Correct Answer-
Offer unique product attributes that a wide range of buyers find appealing
and worth paying for
7. Which one of the following is not among the options or possibilities for
managing value chain activities in ways that create desirable
differentiating attributes, thereby enhancing the value delivered to
customers and better differentiating the company's product/service
Vendarsol
, offering from rivals' offerings? - Correct Answer-Striving to ensure a
corporate diversity policy is introduced with effective controls
Eliminate product features that might have market appeal, but excessively
increase production costs
Shifting to the use of technologies and/or information systems that bypass
the need to perform certain value chain activities
8. Broad differentiation strategies tend to work best in market
circumstances where - Correct Answer-There are many ways to
differentiate the product or service that have value to buyers
9. What sets focused (or market niche) strategies apart from low-cost
leadership and broad differentiation strategies is - Correct Answer-their
concentrated attention on a narrow piece of the overall market.
10. A company achieves best-cost provider status by - Correct Answer-
Using its resources and capabilities to incorporate attractive upscale
attributes at a lower cost than those rivals with comparable upscale
product offerings
11. The target market of a best-cost provider is - Correct Answer-Value-
conscious buyers
12. A company's menu of strategic choices to supplement its decision to
employ one of the five generic competitive strategies does NOT include -
Correct Answer-whether to employ a preemptive strike type of green
ocean strategy.
13. A blue ocean type of offensive strategy - Correct Answer-
Involves abandoning efforts to beat out competitors in existing
markets and, instead, inventing a new industry or distinctive market
segment that renders existing competitors largely irrelevant and
allows a company to create and capture altogether new demand
14. The purposes of defensive strategies include - Correct Answer-
Lower the risk of being attacked by rivals, weaken the impact of any
Vendarsol
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Vendarsol. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67866 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now