In order to successfully implement a differentiation strategy, a firm must have: O A product unlike anything else on the market currently O Higher customer willingness to pay than competitors O Higher williness to pay and lower average costs than competitors O Higher willingess to pay and comparable average costs relative to competitors O None of these are necessary for a differentiation strategyWhich of these is an example of price discrimination? O Charging tourists a higher price because they do not speak the local language O Airlines charging higher prices for tickets on flights when demand increases O Neither of these O Both of theseWhich of the following is a risk associated with pursuing a cost leadership strategy? O Availability of counterfeits O Homogenous customer tastes O Availability of substitutes O Emergence of process and technological innovations O All of these O None of theseBoretea is a {ctional} manufacturer of extremely basic, nofrills rain gear. Their most popular product are rain boots that that. due to a proprietary technology. remain waterproof and remain durable for up to 20 years. significantly longer than conyenonal rain boots. This is an example of: Q Horizontal differentiation O Vertical differentiation O Focused Differentiation O None of these C) All of these In 2912. Bin: launched the "Bit Cristal For Her," a ball point pen targeted explicitly to women with a "thin barrel designed to t a woman's hand." The pen was a huge failure. This is an {unsuccessful} example of what kind of strategy? O Focused Differentiation O Focused lCost Leadership 0 Integrated differentiation and cost leadership 0 There is not enough information Price discrimination a firm's ability to value. O increases / capture O increases / create O decreases / capture O decreases / create O None of theseWhich of the following is an example of the richness of a firm's relationship with its customers? O Being able to collect data on users shopping history via a loyalty card O Being able to promote a new product to the customers who follow them on social media O Being able to raise prices because users feel that being a customer of this firm is part of their identity O None of these O All of theseWhy does market segmentation help prevent cannibalization? O It can help firms understand how customer tastes and preferences are evolving O By identifying differences in customer willingness to pay, it can enable firms to charge less price sensitive customers a higher price O It can enable firms to identify which customers will value their core competencies more highly O All of these O None of theseThe chain of command in the military is an example of: O an organizational resource O an HR resource O a reputation resource O None of theseIt can be difficult for firms to determine whether their capabilities are actually core competencies. Why? O Their competitors may retaliate O It is difficult to determine exactly how much customers value a product O Intangible resources can be difficult to quantify O Not all competitive advantages are sustainableIt can be difficult for firms to determine whether their capabilities are actually core competencies. Why? O Intangible resources can be difficult to quantify It is difficult to determine exactly how much customers value a product O Their competitors may retaliate O Not all competitive advantages are sustainableA brilliant CEO is an example of a O resource O capability O core competency O competitive advantage O None of theseWhat's the difference between a core competency and a competitive advantage? O Profitability - core competencies do not guarantee that the company will be profitable O Core competencies are the "crown jewels," while competitive advantages are how a firm distinguishes itself O Core competencies are also capabilities, while competitive advantages are not O There is no difference - core competencies are the firm's competitive advantages O It depends on the industryAccording to the textbook, a capability is a combination of resources. But what must be true of that combination in order for it to be a capability? O It must create value O It must create more value than competitors O Competitors cannot imitate it O All combinations of resources are capabilitiesIn order for a competitive advantage to be sustainable, it must be nonsubstitutable. Which of the below is the best explanation for this criterion? O Competitors will be unable to develop a similar product any time in the near future O Competitors cannot sustain an imitation of the firm's strategy O There are no products/services that perform the same or similar function O It is not possible for competitors to create a comparable level of value with a different technique O None of these O All of these