Question: Successful differentiation allows a firm toA ) command the largest market share in the industry.B ) set the industry ceiling on price. citing overly concemed

Successful differentiation allows a firm toA) command the largest market share in the industry.B) set the industry ceiling on price. citing overly concemed abour whether entry barriers into the industry are Di command a premium price for its product and/or increase unit sales and/or gainbuyer loyalty to its brand.E) take sales and market share away from rivals by undercutting them on price.33. What sets focused (or market niche) strategies apart from low-cost leadership and broad differentiation strategies isB the extra attention paid to top-notch product performance and product quality.B) their concentrated attention on a narrow piece of the overall market.C) greater opportunity for competitive advantage.D) their suitability for market situations where most industry rivals have weakly differentiated products.E) their objective of delivering more value for the money.34. A firm pursuing a best-cost provider strategyA) seeks to offer more value-adding features than the industry's low-cost providers and lower prices than those pursuing differentiation.B) achieves competitive advantage because its operating activities are "best-in-class" or "best-in-world."C) tries to have the best cost (as compared to rivals) for each activity in the industry's value chain.D) opts for a "middle of the road" strategic approach that attempts to satisfy the product or service needs of consumers with average household incomes. follows a hybrid strategy based upon superior resources and a narrow market niche.35. The chief difference between a low-cost leader strategy and a focused low-cost strategy isA) whether the product is strongly differentiated or weakly differentiated from rivals.B) the degree of bargaining power that buyers have.C) the size of the buyer group that a company is trying to appeal to.D) the production methods being used to achieve a low-cost competitive advantage.E) the number of upscale attributes incorporated into the product offering.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!