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Exam (elaborations)

WPC 480 Exam 2 Questions With Complete Solutions

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  • WPC 480

WPC 480 Exam 2 Questions With Complete Solutions What are 2 Value Innovation Strategies ? 1. Lowering Costs (Eliminate & Reduce) 2. Increase perceived Consumer Benefits (Raise & Create) Threat of Entry (Competitive Forces, Differentiation) - Protection due to intangible resources, innovation...

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  • October 23, 2024
  • 31
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • WPC 480
  • WPC 480
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UpperClass
WPC 480 Exam 2 Questions With Complete
Solutions

What are 2 Value Innovation Strategies ? 1. Lowering Costs (Eliminate & Reduce)




2. Increase perceived Consumer Benefits (Raise & Create)




Threat of Entry (Competitive Forces, Differentiation) - Protection due to intangible

resources, innovation, and customer service




- Risk include Erosion of Margins and Replacement




Threat of Entry (Cost Leadership) - Protects against entry due to Economies of Scale




- Risk include Erosion of Margins and Replacement




Power of Suppliers (Differentiation) - protection against input prices which can be passed

to customers




Risks include Erosion of Margins

, WPC 480 Exam 2 Questions With Complete
Solutions

Power of Suppliers (Cost Leadership) - Protection against increase in input prices which

can be absorbed




- Risks include Erosion of Margins




Power of Buyers (Differentiation) - Protection against decreased sales prices


- Are well differentiated products




- Risks, Erosion of Margins




Power of Buyers (Cost Leadership) - Protected against decrease in sales prices


- Can be absorbed




- Risks, Erosion of Margins




Threat of Substitutes (Differentiation) - Protection against substitute, differential appeal

, WPC 480 Exam 2 Questions With Complete
Solutions
- Risks, Replacement when face with Innovation*




Threat of Substitutes (Cost Leadership) - Protection against substitutes through further

lower prices




- Risks, Replacement when faced with innovation




Rivalry Among Competitors (Differentiation) - Protection ONLY if product has enough

differential appeal




- Competition focus = Price Shifts




- Risks, Increasing product features and no recovery profit




Rivalry Among Competitors (Cost Leadership) - Protection against price wars because

lowest cost firm WINS




- Risks, lowering costs to drive value below acceptable threshold

, WPC 480 Exam 2 Questions With Complete
Solutions

- Focus of competition to switch to non-price attributes (enhancing a product without cost inputs)




Economies of Scope - Savings that come from producing 2 or more outputs (cheaper than

it would be to produce them individually)




How do Managers Increase Perceived Value or Decrease Costs? 1. Product Features


2. Customer Service

3. Complements




Different value drivers contribute to Competitive Advantage if V > C




Red Ocean - market space that already exists with existing industries




- rivalry among competitors is CUT-throat

- market place is crowded, zero-sum game*

- products become commodities

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