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
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
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
Cost leadership and focused cost leadership are the same strategy.
Cost leadership and focused cost leadership are the same strategy.
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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.
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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.
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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.
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Cost leadership strategy involves offering the highest price for products.
Cost leadership strategy involves offering the highest price for products.
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Efficiency improvements are a key aspect of a cost leadership strategy.
Efficiency improvements are a key aspect of a cost leadership strategy.
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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.
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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.
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Differentiation strategy involves offering products or services at lower prices than rivals.
Differentiation strategy involves offering products or services at lower prices than rivals.
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Business-level strategies are the same as corporate-level strategies.
Business-level strategies are the same as corporate-level strategies.
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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.
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Technological innovation is not a key aspect of a cost leadership strategy.
Technological innovation is not a key aspect of a cost leadership strategy.
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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.
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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.
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Product customization is a key aspect of a differentiation strategy.
Product customization is a key aspect of a differentiation strategy.
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