Questions and Answers
What is the essence of strategy according to the text?
Customer value propositions
Which category of customer value proposition focuses on understanding and responding to individual needs better than competitors?
Customer intimacy
Which company's reason for choosing them over competitors is delivering products and services faster, more conveniently, and at a lower price?
Lazada
What is the main activity involved in establishing a basic strategy according to the text?
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What is the focal point of a company’s strategy according to the text?
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Study Notes
Understanding Strategy
- The essence of strategy lies in choosing a unique and valuable position, based on the company's internal capabilities and external opportunities and threats.
Customer Value Proposition
- The "Customer Intimacy" category of customer value proposition focuses on understanding and responding to individual needs better than competitors.
Company Strategy Examples
- Amazon's reason for choosing them over competitors is delivering products and services faster, more conveniently, and at a lower price.
Establishing a Basic Strategy
- The main activity involved in establishing a basic strategy is deciding what business to be in and how to win in that business.
Company Strategy Focus
- The focal point of a company's strategy is how to win in the chosen business.
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