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GEB 4890 - Exam 2 Questions with Correct Answers
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GEB 4890 - Exam 2 Questions with Correct Answers
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GEB 4890 - Exam 2 Questions with Correct Answersbusiness strategy Correct Answer-A leadership plan that achieves a
specific set of goals or objectives
generic strategies Correct Answer-fundamental philosophical options for
the design of strategies
low cost provider strategy Correct Answer-striving to achieve lower
overall costs than rivals on comparable products that attract a broad
spectrum of buyers
broad differentiation strategy Correct Answer-seeking to differentiate
the company's product or service from rivals' in ways that will appeal to
a broad spectrum of buyers
focused low-cost strategy Correct Answer-concentrating on the needs
and requirements of a narrow buyer segment (or market niche) and
striving to meet these needs at lower costs than rivals (thereby being
able to serve niche members at a lower price)
focused differentiation strategy Correct Answer-Concentrating on a
narrow buyer segment (or market niche) and outcompeting rivals by
offering niche members customized attributes that meet their tastes and
requirements better than rivals' products
best-cost provider strategy Correct Answer-striving to incorporate
upscale product attributes at a lower cost than rivals
, cost drivers Correct Answer-a factor that has a strong influence on a
company's costs
value driver Correct Answer-a factor that can have a strong
differentiating effect
tangible attributes Correct Answer-features that increase customer
satisfaction with the product, such as product specifications, functions
and styling
intangible attributes Correct Answer-features that enhance buyer
satisfaction in noneconomic ways
economies of scale Correct Answer-the property whereby long-run
average total cost falls as the quantity of output increases
efficiency curve Correct Answer-Shows the trade off between costs and
performance for the current supply chain design if the supply chain is
operated as efficiently as it can be
uniqueness drivers Correct Answer-enhances differentiation
globalization Correct Answer-international expansion is creating a new
global economy
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