Competitive Strategies Overview

<p>In dynamic and innovative environments where needs change rapidly. (A)</p> Signup and view all the answers

<p>Combining both low costs and differentiation to offer a good value for price. (B)</p> Signup and view all the answers

<p>Low price + low value (C)</p> Signup and view all the answers

<p>High value + low price (C)</p> Signup and view all the answers

<p>Ryanair (B)</p> Signup and view all the answers

<p>Loss of customers (D)</p> Signup and view all the answers

<p>Failure to differentiate the product effectively (B)</p> Signup and view all the answers

<p>Ability to establish high prices (C)</p> Signup and view all the answers

<p>Broad market appeal (A)</p> Signup and view all the answers

<p>Higher price differences among competitors (C)</p> Signup and view all the answers

<p>Differentiation or cost leadership (D)</p> Signup and view all the answers

<p>Targeting a specific segment and customizing offerings (D)</p> Signup and view all the answers

<p>It establishes high prices without competition (B)</p> Signup and view all the answers

<p>Minimizing costs for a specific segment (C)</p> Signup and view all the answers

<p>Reduced appreciation from purchasers (C)</p> Signup and view all the answers

<p>The generalisation of the learning effect to other operating costs. (C)</p> Signup and view all the answers

<p>By reducing prices below initial costs due to anticipated reductions in future costs. (A)</p> Signup and view all the answers

<p>It may lead to price wars and increased competition. (D)</p> Signup and view all the answers

<p>Creating uniqueness based on customer value for a price premium. (B)</p> Signup and view all the answers

<p>Continuous monitoring of costs. (B)</p> Signup and view all the answers

<p>Focus on specific customer needs for better differentiation. (D)</p> Signup and view all the answers

<p>Rapid imitations of cost-saving measures by competitors. (B)</p> Signup and view all the answers

<p>Standardizing product features across markets. (B)</p> Signup and view all the answers

<p>Companies with greater market share can leverage experience for lower costs. (D)</p> Signup and view all the answers

<p>It adds unique features that are difficult to imitate. (A)</p> Signup and view all the answers

<p>A unit supplying goods or services for a distinct domain of activity. (C)</p> Signup and view all the answers

<p>Sufficient substance to influence market position. (A)</p> Signup and view all the answers

<p>Cost Leadership (A)</p> Signup and view all the answers

<p>Prevent competitors from replicating a competitive advantage. (B)</p> Signup and view all the answers

<p>Benchmarking (D)</p> Signup and view all the answers

<p>Cost Focus (A)</p> Signup and view all the answers

<p>Flexible and adaptable to new conditions. (B)</p> Signup and view all the answers

<p>Imitation of competitor products (C)</p> Signup and view all the answers

<p>Manufacturing time decreases with greater production volume. (D)</p> Signup and view all the answers

<p>Organizational capabilities and resources. (A)</p> Signup and view all the answers

<p>Concern with specific products and markets. (A)</p> Signup and view all the answers

<p>Increased total production output at a decreasing cost per unit. (B)</p> Signup and view all the answers

<p>Random production practices (C)</p> Signup and view all the answers

<p>To navigate competition successfully in a specific market. (D)</p> Signup and view all the answers

Creating a unique product or service to stand out from competitors.

Targeting specific groups of people based on unique traits.

Being the most efficient producer to offer the lowest prices.

A strategy to target a specific market segment and customize products for their unique needs.

A strategy aiming to be the cheapest provider in a specific market segment.

Internal costs are different from external prices. A company can have low costs without low prices.

Lack of clear strategic direction, failure to choose a specific competitive advantage, such as low cost or differentiation.

Cost leadership strategies work best in stable environments where needs are relatively unchanging.

Features affecting a market. Examples include customer power, competitor intensity, and market size.

Combining low cost with differentiation to offer good value for money.

Customer preference for a particular brand.

Obstacles that prevent new competitors from entering a market.

Unique requirements and preferences within a particular customer group.

A reduction in the time needed to produce a product or service, leading to lower unit costs of direct labor.

The generalisation of the learning effect, applying to other operating costs.

Company with higher market share benefits from cost advantages compared to competitors due to experience.

Setting a price below initial costs to gain market share due to cost reductions from the experience effect.

A competitive strategy focused on having the lowest production costs in an industry to increase profitability.

Competitors set low prices, to gain market share.

Making a product distinct from competitors by unique features.

Targeting a large group of customers with commonly appreciated product attributes.

Dividing a wide market into specific groups with different needs.

Combining elements of cost leadership and differentiation strategies to provide a good quality-price ratio.

A model that visualizes different business strategies regarding price and value positioning in the market.

The overall scope of an organization and how value is added to its business units.

How a business competes successfully in a specific market.

How different parts of an organization deliver the strategy in terms of managing resources, processes, and people.

A distinct domain of activity supplying goods or services within an organization.

Aspects of a firm that distinguish it from others, leading to superior performance.

Creating unique products or services that are perceived as superior by customers, justifying premium prices.

Decreasing per-unit costs as production volume increases.

Obstacles preventing other competitors from replicating a firm's competitive advantage.

A tool identifying strengths, weaknesses, opportunities, and threats for an organization.

Comparing an organization's performance to others in the industry.

The series of activities involved in creating and delivering value to a customer.

A framework to evaluate organizational resources and capabilities to determine if they contribute to a competitive advantage.

The approach a business unit takes to achieve a competitive edge in its marketplace.