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Strategic Cost Management Lecture Quiz

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What is the essence of strategy according to the text?

Establishing a basic strategy and selecting a course of action

Creating a reason for customers to choose the company over competitors (correct)

Mobilizing people to carry out plans and run routine operations

Offering higher quality products than competitors

What does 'customer intimacy' as a customer value proposition imply?

Delivering products and services faster, more conveniently, and at a lower price than competitors

Offering higher quality products than competitors

Mobilizing people to carry out plans and run routine operations

Understanding and responding to individual needs better than competitors (correct)

What is the focal point of a company's strategy?

Product leadership

Planning and specifying action implementation

Operational excellence

Target customers (correct)

What is involved in the activity of directing and motivating according to the text?

<p>Mobilizing people to carry out plans and run routine operations</p> Signup and view all the answers

What are the three broad categories into which customer value propositions tend to fall according to the text?

<p>Customer intimacy, operational excellence, product leadership</p> Signup and view all the answers

Strategic Cost Management Lecture Quiz

Choose a study mode

Podcast

Questions and Answers

What is the essence of strategy according to the text?

What does 'customer intimacy' as a customer value proposition imply?

What is the focal point of a company's strategy?

What is involved in the activity of directing and motivating according to the text?

What are the three broad categories into which customer value propositions tend to fall according to the text?

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