chp5 - 1. The heart and soul of building competitive...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
1. The heart and soul of building competitive advantage entails A) building a brand name image that buyers trust. B) delivering superior value to buyers and building competencies and resource strengths in performing value chain activities that rivals cannot readily match. C) erecting a defense capable of warding off the strategic offensives of challenger firms. D) finding effective and efficient ways to improve the company's market position. E) being the industry's most active user of clever and fresh offensive strategies. 2. Which of the following is not one of the primary ways to achieve cost advantage by reconfiguring the make-up of the value chain? A) Reengineering core business processes to cut out needless steps and low value-added activities B) Lowering the specifications for purchased materials and bargaining hard with suppliers for lower prices on purchased parts and components C) Shifting to e-business technologies D) Simplfying the product design and/or shifting to a more streamlined technological and manufacturing process E) Finding ways to bypass the use of raw materials or components that are costly 3. In which of the following circumstances is a strategy to be the industry's overall low-cost provider not particularly well matched to the market situation? A) When the offerings of rival firms are essentially identical, standardized, commodity-like products B) When there are few ways to achieve differentiation that have value to buyers C) When price competition is especially vigorous D) When buyers have high switching costs because of their of their special needs and requirements E) When entry barriers are low and industry newcomers are active in using the appeal of low prices to attract buyers and build a customer base 4. A differentiation-based competitive advantage A) nearly always is attached to quality and service aspects. B)
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 07/03/2011 for the course ECON 101 taught by Professor Ramiz during the Spring '11 term at Abilene Christian University.

Page1 / 3

chp5 - 1. The heart and soul of building competitive...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online