18 Questions
What is the focus of business strategies?
Market development
Which level of strategy is concerned with achieving immediate objectives?
Operating level strategy
What does a functional strategy aim to achieve for a business unit?
Maximizing resource productivity
In a company following a low-cost competitive strategy, what production strategy would be emphasized?
Reduction cost operation
What does each department within a company have?
Different functional strategies
What is the purpose of developing a distinctive competence in functional strategy?
To provide competitive advantage
What does corporate-level strategy define for a company?
The markets and business in which the company will operate
Which type of strategy emphasizes strengthening the company's competitive position of products or services?
Business level strategy
What is the primary focus of competitive strategies?
Strengthening the company's competitive position in the market
Which strategy involves the identification of ways to achieve targets, weaken competitors, gain competitive advantage, and ensure sustainability?
Corporate-level strategy
What is a key characteristic of business level strategy?
Setting long-term vision for creating corporate value
What type of strategy involves marketing the qualities of a product that sets it apart from similar products?
Business level strategy
Which strategy emphasizes both competitive and cooperative strategies for strengthening the company's position?
Corporate-level strategy
Which company is mentioned as an example of employing a differentiation strategy?
Apple
Which strategy creates a focus on key benefits that make a brand better than others?
Business level strategy
What type of strategy is employed by a company to drive consumer choice based on product uniqueness?
Competitive strategy
Which type of strategy involves marketing the qualities of a product to distinguish it as superior compared to competitors?
Business level strategy
In the context of the text, what does product differentiation aim to achieve?
Drive consumer attention to key benefits
Test your knowledge on activities, tactics, and management behaviors related to business strategy and functional level strategy. Learn about product development, innovation, market development, and more.
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