Achieving a differentiation$-$based competitive advantage successfully involves

Multiple Choice

striving to match rivals' product features, design, and performance at a lower price.

pursuing cost reductions throughout the entire value chain.

a late entrance into a market and enjoying the benefits of experience curve effects.

separating marketing from brand$-$building activities.

improving customer service or adding additional services.

A company's competitive strategy involves

Multiple Choice

how it plans to unify its functional and operating strategies into a

cohesive effort aimed at successfully taking customers away from

rivals.

specific action management that intends to strongly differentiate its

product offering from the offerings of rival companies in the industry.

its plans for underpricing rivals and achieving product superiority.

specific action management plans to develop a better value chain than

rivals have.

the specifics of management's game plan for competing successfully.