Podcast
Questions and Answers
A company using a focused cost leadership strategy targets the entire market with a low-cost approach.
A company using a focused cost leadership strategy targets the entire market with a low-cost approach.
False (B)
Product customization allows companies to appeal to customers who value self-expression.
Product customization allows companies to appeal to customers who value self-expression.
True (A)
Business-level strategies are concerned with managing the interests and operations of a multi-business corporation.
Business-level strategies are concerned with managing the interests and operations of a multi-business corporation.
False (B)
Cost leadership and focused cost leadership are the same strategy.
Cost leadership and focused cost leadership are the same strategy.
The primary goal of business-level strategies is to satisfy customers' needs with the product or service.
The primary goal of business-level strategies is to satisfy customers' needs with the product or service.
Nike's NIKEiD platform allows customers to customize their sneakers by choosing only colors.
Nike's NIKEiD platform allows customers to customize their sneakers by choosing only colors.
Companies can create a competitive advantage by offering products or services that are perceived as unique, valuable, and desirable by customers.
Companies can create a competitive advantage by offering products or services that are perceived as unique, valuable, and desirable by customers.
Cost leadership strategy involves offering the highest price for products.
Cost leadership strategy involves offering the highest price for products.
Efficiency improvements are a key aspect of a cost leadership strategy.
Efficiency improvements are a key aspect of a cost leadership strategy.
Focused cost leadership involves targeting the entire market with a high-cost approach.
Focused cost leadership involves targeting the entire market with a high-cost approach.
Companies that execute a cost leadership strategy can attract customers who are not sensitive to price.
Companies that execute a cost leadership strategy can attract customers who are not sensitive to price.
Differentiation strategy involves offering products or services at lower prices than rivals.
Differentiation strategy involves offering products or services at lower prices than rivals.
Business-level strategies are the same as corporate-level strategies.
Business-level strategies are the same as corporate-level strategies.
A company that masters the differentiation strategy can cultivate a loyal customer base willing to pay lower prices for its products.
A company that masters the differentiation strategy can cultivate a loyal customer base willing to pay lower prices for its products.
Technological innovation is not a key aspect of a cost leadership strategy.
Technological innovation is not a key aspect of a cost leadership strategy.
Building a strong brand image is a key aspect of a cost leadership strategy.
Building a strong brand image is a key aspect of a cost leadership strategy.
Firms employing a differentiation strategy focus on offering products or services at lower prices than competitors.
Firms employing a differentiation strategy focus on offering products or services at lower prices than competitors.
Product customization is a key aspect of a differentiation strategy.
Product customization is a key aspect of a differentiation strategy.