17 Questions
What is the strategic approach that focuses on offering unique and distinctive products or services in a wide market?
Broad Differentiation
Which strategic approach involves focusing on offering unique and distinctive products or services in a narrow segment of the market?
Focused Differentiation
What type of strategic approach offers a blend of low-cost provider efficiency and value for money to customers?
Hybrid Strategy
Which strategic approach focuses on providing products or services with the lowest production costs in the market?
Low-Cost Provider Efficiency
Which strategic approach aims at providing customers with a balance of quality, features, and performance at a reasonable price?
Value for Money
What does a company's strategy involve?
Reacting to fresh moves of competitors
Which element of a firm's realized strategy includes new initiatives?
Proactive (deliberate) strategy elements
What does competitive strategy revolve around?
Being different
Which of the following is NOT a distinctive capability mentioned in the text?
Low-Cost Provider Efficiency
What is Coca Cola known for in terms of differentiation?
Unique packaging
Which strategic example aligns with Coca Cola's distinctive capabilities?
Sophisticated distribution systems
What is the relationship between the value provided (V) and the price (P) in a value proposition?
Inverse relationship: as V increases, P decreases.
What is the primary factor that determines the ability of a business model to generate profits?
Costs for a given customer value proposition (C)
Which factor is NOT considered when evaluating a winning strategy according to the text?
Degree of customer loyalty to the company
What is the main purpose of a company's business model, as mentioned in the text?
To explain how its strategy will deliver value and make profits
What impact do lower costs (C) have on a business model's profitability according to the text?
Positive impact: lower costs increase profitability
How does a winning strategy differ from other strategies, based on the text?
It leads to sustainable competitive advantage and boosts performance.
This quiz explores the concept of sustainable competitive advantage in strategic management, focusing on how a company's strategic choices are crucial for maintaining an edge over competitors. Learn about the factors that differentiate a powerful strategy from an ordinary one.
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