This not an exam question. This a study guide. Please provide answers so I can study for the exam.

1. Generally, do differentiated businesses spend more on R&D than their low-cost counterparts? Explain. 2. Explain the parts of the experience curve. How is this concept related to the production strategy? 3. Explain the just-in-time inventory system. Identify situations in which JIT tends to be effective and ineffective. 4. Identify, explain, and provide examples of the component parts of any marketing strategy. 5. What differences in financial strategies would you expect to see between a business employing a low-cost strategy and one employing a differentiation strategy? 6. What are the relationships among corporate-level, business-level, and functional strategies? 7. What is the difference between product and process R \& D? How can each align with business strategy