Exam 7: Small Business Strategies: Imitation With a Twist

Cost benefits can come from all of the following EXCEPT

Capabilities,organizational processes,information,or knowledge of a firm that is not clearly evident refers to

If your product helps the community,a group,the environment,or the world,what type of value benefit is it?

Differentiate between incremental innovation and pure innovation.

_____ is the general name for the line of products or services being sold.

The tool used in the first step of strategic planning is the SWOT analysis.

Objective is the idea and actions that explain how a firm will make its profits.

An overall strategic approach in which a firm seeks to do something that is very different from that of what others in the industry are doing is called a(n)

A type of generic strategy aimed at clarifying how one product is unlike another in a mass market refers to _____ strategy.

Identify the incorrect observation concerning niche markets.

Which of the following is a key benefit of customer contracting?

The second step of the small business strategy planning process is considering with _____

Market scale refers to the geography of your target market.

Healthy Wash Following the health trend, Amy Amorouso and her two friends have decided to open a laundromat with a workout facility. The concept of each of these exists separately and also there are laundromats with bars or game rooms that already exist. This would be a different variation. The main focus will be the laundromat with a small space allowed for a workout area, with a few machines to test the idea. -Identify the two market decisions that Amy and her friends need to make.

An overall strategic approach in which the entrepreneur does more or less what others are already doing is called a(n)

Which of the following is NOT a key type of information needed to perform an industry analysis?

Most small businesses are more _____ than _____.

_____ refers to the size of the market whereas _____ refers to its geographic range.

Healthy Wash Following the health trend, Amy Amorouso and her two friends have decided to open a laundromat with a workout facility. The concept of each of these exists separately and also there are laundromats with bars or game rooms that already exist. This would be a different variation. The main focus will be the laundromat with a small space allowed for a workout area, with a few machines to test the idea. -The first thing that Amy and her friends need to do to pursue their strategy is to perform

This type of value benefit involved can come from the products or services that you offer,or from your own firm's reputation.