Strategic Management and Business Policy Chapter 08 Strategy Formulation Functional Strategy and Str

Strategic Management and Business Policy Chapter 08 Strategy Formulation Functional Strategy and Str

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Chapter 08 Strategy Formulation Functional Strategy and Strategic Choice Question 1 Using a _____ strategy, a company or business unit can capture a larger share of an existing market for current products through market saturation and marketing penetration, or it can develop new markets for current products. Correct: market development CORRECT. ------------------------------------------------------------------- Question 2 _____ pricing attempts to hasten market development and offers the pioneer the opportunity to use the experience curve to gain market share with a low price and dominate the industry. Incorrect: Skim INCORRECT. Penetration pricing is more likely than skim pricing to raise a unit's operating profit in the long term.
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Chapter 08 Strategy Formulation Functional Strategy and Strategic Choice ------------------------------------------------------------------- Question 3 _____ strategy determines how and where a product or service is to be manufactured, the level of vertical integration in the production process, the deployment of physical resources, and relationships with suppliers. Incorrect: Marketing INCORRECT. Operations strategy should also deal with the optimum level of technology the firm should use in its operations process. ------------------------------------------------------------------- Question 4 Parts grouped into manufacturing families to produce a wide variety of mass-produced items form the _____ system. Correct: flexible manufacturing CORRECT.
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Chapter 08 Strategy Formulation Functional Strategy and Strategic Choice ------------------------------------------------------------------- Question 5 Using _____, two suppliers are the sole suppliers of two different parts, but they are also backup suppliers for each other's parts.
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