Column A 1. 96 2 5 8 9. 10 11. 12. 13. An advantage that a firm has over its competitors in the activities associated with producing a product or service, thereby allowing it to produce the same product at lower cost best defines the term. A company's primary purpose that often specifies the business or businesses in which the firm intends to compete-or the customers it intends to serve-refers to its The industry, customer segment, or geographic area that a company competes in The reason a firm wins with customers or the value proposition it offers to customers, such as a low cost advantage or differentiation advantage or both Returns in excess of what an investor expects from other investments with a similar amount of risk. Strategic planning method used to evaluate the strengths, weaknesses, opportunities, and threats involved in a business. Dividing up customers into groups or segments based on similar needs or wants. Those who have a share or an interest in the activities and performance of an organization A product that is fundamentally different yet serves the same function or purpose as another product A firm that provides products that are inputs to another firm's production process Products or services that can be used in tandem with those from another industry All assets, brands, land, information, knowledge, and so on, controlled by a firm that enable it to conceive of and implement strategies that improve as efficiency and effectiveness Tangible or intangible resources or factors of production that create economic value for the firm when employed. This chapter focuses on physical, financial, human, and intangible 6 & 7 k 8 hp Column B a. sunk cost fallacy b. mission statement c. relative cost d learning curve e Dynamic Capabilities Stakeholders & Value h. acquisition Lvalue chain synergy k brand image L vertical integration minimitability n virtuous circle Resources p. horizontal diversification adjacent market Supplier takeover prestige brands Vscale curve 9 Tim 1