WPC 480 - Chapter 6 Questions With Complete Solutions
5 views 0 purchase
Course
WPC 480
Institution
WPC 480
WPC 480 - Chapter 6 Questions With
Complete Solutions
Differentiation strategy Generic business strategy that seeks to create higher value for
customers than the value that competitors create.
Cost leadership strategy Generic business strategy that seeks to create the same or similar
value ...
WPC 480 - Chapter 6 Questions With
Complete Solutions
Differentiation strategy Generic business strategy that seeks to create higher value for
customers than the value that competitors create.
Cost leadership strategy Generic business strategy that seeks to create the same or similar
value for customer at a lower cost.
Scope of competition The size- narrow or broad - of the market in which a firm chooses to
compete.
Focused cost leadership strategy Same as the cost-leadership strategy except with a
narrow focus on a niche market.
Focused differentiation strategy Same as the differentiation strategy except with a narrow
focus on a niche market.
Increase the perceived value The goal of a differentiation strategy is to add unique
features that will ______ ______ ______ ______ of goods and services in the minds of
consumers so they are willing to pay a higher price.
, WPC 480 - Chapter 6 Questions With
Complete Solutions
Economies of scope Savings that come from producing two (or more) outputs at less cost
than producing each output individually, despite using the same resources and technology.
Most salient value drivers 1. Product features
2. Customer service
3. Compliments
Value drivers ______ ______ area related to a firm's expertise in, and organization of,
different internal value chain activities.
Customer service Managers can increase the perceived value of their firms' product or
service offerings by focusing on ______ ______.
Complements ______ add value to a product or service when they are consumed in
tandem.
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 UpperClass. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.99. You're not tied to anything after your purchase.