Exam 7: Small Business Strategies: Imitation With a Twist

Which of the following is true of imitation?

Which of the following is true of the entry wedge of second sourcing?

_____ are classic strategies for businesses of all types and they include differentiation,cost,and focus.

In an imitative strategy,an entrepreneur:

The supra-strategy of a classic imitator small business start-up is single-mindedness.

Which of the following is characteristic of the boom stage in the life cycle of a product?

Differentiate between incremental innovation and pure innovation.

Which of the following is an advantage of picking customer-desired benefits that a business owner's competitors do not offer?

Industry analysis is defined as the technique used to:

What are the different small business supra-strategies?

A niche market is a narrowly defined segment of the population that is likely to share interests or concerns.

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

An opportunity that makes it possible for a new business to gain a foothold in a market is referred to as a(n)_____.

As a firm gets more experience,it can often work with fewer mistakes and greater efficiencies,thereby lowering costs.This leads to the cost benefit of _____.

According to Shepherd,Shanley,and Porter,which of the following is a small business supra-strategy?

The life cycle stage in which a product or service is being invented is known as the _____.

Tactical actions are competitive responses with low resource requirements.

Which of the following is a tactical action?

A _____ is a narrowly defined segment of the population that is likely to share interests or concerns.

Which of the following is a strategic action?