Exam 4: Business-Level Strategy

The focused differentiation strategy differs from the differentiation strategy in that:

One of the benefits of the integrated cost leadership/differentiation strategy is that it is less risky than either the cost leadership or differentiation strategies.

Hyundai allows customers to return their cars if they lose their job within 12 months of purchase.Hyundai is engaged in which of the following aspects of managing customer relationships?

An entrepreneur is investigating starting a company that provides tax advice to small companies.In order to position his company differently from the existing competitors, the entrepreneur must:

To position itself differently from competitors, a firm must decide whether it intends to perform activities differently or to perform different activities.

By examining the activity map of Southwest Airlines, one can identify the areas of __________ around which it has developed its business strategy.These themes include limited passenger service, high aircraft utilization, and highly productive ground and gate crews.

Southwest Airlines' tightly integrated activities make its cost leadership strategy more vulnerable to imitation than if its activities were loosely integrated.

Ever-improving levels of efficiency enhance profit margins for a cost leader.This affects which of the following forces of industry structure most directly?

A business-level strategy is an integrated and coordinated set of commitments and actions the firm uses to gain a competitive advantage by exploiting core competencies in specific product markets.

A firm's core strategy is its __________ strategy.

In the animal food products business, food-product needs of owners of companion animal pets (e.g., dogs and cats) differ from the needs for food and health-related products of those owning production animals (e.g., livestock).To which of the following aspects of managing customer relationships does this choice refer?

Business-level strategies are concerned specifically with:

Almost any identifiable human or organizational characteristic can be used to subdivide a market into segments that differ from one another on a given characteristic.

A company using a narrow target market in its business strategy is:

A nationwide chain of pet stores wishes to identify the trade-offs that its customers are willing to make between low-cost products such as generic pet foods and differentiated features such as pick-up and delivery of pets for grooming.The best technique for this firm to learn this information would be to use:

Global competition has increased the options for consumers and has made it more imperative for firms to identify the needs of customers to earn above-average returns.

In general, firms can be MOST effective if they develop business-level strategies that will serve the needs of the "typical customer" in the industry.

A firm using a(n) __________ strategy generally needs to operate "below the radar" of larger and more resource rich firms that serve the broader market.

When the costs of supplies increase in an industry, the cost leader:

A company selling diapers knows the market is for people with infants and toddlers.However, within that segment, it can further divide the market by a demographic factor like: