Question No. 1: (11 Points) From Chapter 5, list and describe the five generic competitive strategies. For all five generic competitive strategies, discuss the relationship between "Market Coverage" and "Type of Competitive Advantage Pursued". For example, note which strategy has a high or low presence in a broad or limited number of market segments and whether or not value creation is keyed to lower cost or differentiating features or some mix of these characteristics. STUDY GUIDE: Definitions of a Low-Cost Provider Strategy, a Broad Differentiation Strategy, a Focused Low-Cost Strategy, a Focused Differentiation Strategy, a Best-Cost/Best- Value Provider Strategy on page 89; Figure 5.1 "The Five Generic Competitive Strategies" on page 90