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82.
What is the primary target market for a best cost-provider?
83.
The competitive advantage of a best-cost provider is
84.
For a best-cost provider strategy to be successful, a company must have
85.
The target market of a best-cost provider is
86.
Best-cost provider strategies are appealing in those market situations where
87.
The big danger or risk of a best-cost provider strategy is
88.
A company's biggest vulnerability in employing a best-cost provider strategy is
89.
Success with a best-cost provider strategy designed to outcompete high-end differentiators requires
90.
Each of the five generic strategies positions the company differently, EXCEPT when it concerns
91.
The production emphasis of a company pursuing a broad differentiation strategy usually involves
92.
The marketing emphasis of a company pursuing a broad differentiation strategy usually is to
93.
The keys to maintaining a broad differentiation strategy are to
94.
The marketing emphasis of a company pursuing a focused low-cost provider strategy usually is to
95.
The underlying criteria of a best-cost provider strategy usually is found in the ability of a company to
96.
A production-based emphasis toward a low-cost provider strategy usually requires a company to strive
for
97.
Each of the following is likely to help a company's low-cost provider strategy succeed EXCEPT
Essay Questions
98.
What are the five generic competitive strategies? Briefly describe each one and identify the type of
competitive advantage that each strategy is aimed at achieving.
99.
Identify cost drivers in a company's value chain. Explain how these drivers impact a firm's generic
strategy.
5-48
100.
Identify uniqueness drivers in a company's value chain. Explain how these drivers impact a firm's
generic strategy.
101.
Compare and contrast cost drivers and uniqueness drivers in a company's value chain. Explain how
these drivers might support a firm's generic strategy.
102.
Describe the strategy of striving to be the industry's overall low-cost provider. What does a company
have to do to achieve low-cost provider status?
103.
Describe the two basic cost-reducing approaches a company can take to become a low-cost provider in
its industry.
104.
Which one of the five generic competitive strategies is most likely to be best suited for an industry
whose product is a commodity? Explain.
105.
What market conditions and circumstances make a low-cost provider strategy attractive? What are the
pitfalls in pursuing a low-cost provider strategy? What can go wrong?
106.
What are the distinctive features of a broad differentiation strategy? Under what circumstances is a
broad differentiation strategy appealing?
107.
What are the pitfalls to be avoided in pursuing a broad differentiation strategy?
108.
What are the distinctive features of a best-cost provider strategy? Under what circumstances is a best-
cost provider strategy appealing?
109.
What type of competitive advantage does a best-cost provider strategy aim at achieving? Explain what a
company has to do to achieve this advantage.
110.
Explain how the strategic target of a low-cost provider differs from the strategic target of a best-cost
provider.
111.
What are the distinctive features of a focused low-cost strategy? How does it differ from a low-cost
leadership strategy?
112.
What are the distinctive features of a focused differentiation strategy? How is it different from a broad
differentiation strategy?
113.
What strategy would you recommend for a small-sized company entering a highly segmented market,
each segment with a complex set of needs and spending power?
114.
A mobile manufacturer decides to reduce the price of its latest line of smart phones, which are not the
cheapest but have features that are popular among most users. Which strategy is the manufacturer
using?
115.
In what market and competitive circumstances are focused low-cost and focused differentiation
strategies NOT attractive?
116.
Explain how the marketing emphasis of a low-cost provider differs from the marketing emphasis of a
best-cost provider.
117.
Explain how the keys to sustaining a broad differentiation strategy differ from the keys to sustaining a
best-cost producer strategy.
118.
What are the keys to sustaining a focused low-cost strategy?
119.
One of the big dangers in crafting a competitive strategy is that managers, torn between the pros and
cons of the various generic strategies, will opt for "stuck in the middle" strategies that represent
compromises between lower costs and greater differentiation and between broad and narrow market
appeal. True or false? Explain your answer.
120.
For a company's competitive strategy to succeed in delivering favorable performance and the intended
competitive edge over rivals, it has to be well-matched to a company's internal situation and
underpinned by an appropriate set of resources, know-how, and competitive capabilities. True or false?
Explain your answer.
