Exam (elaborations)
BSG Exam 3 Questions and Correct Answers
- Course
- Institution
BSG Exam 3 Questions and Correct Answers
[Show more]
Content preview
BSG Exam 3Strategic Offensive - Answer-called for when a company spots opportunities to gain profitable market
share at its rival's expense or when a company has no choice but to try to whittle away at a strong rival's
competitive advantage
Blue Ocean Strategy - Answer-offers growth in revenues and profits by discovering or inventing new
industry segments that create altogether new demand
Offensive Strategies - Answer-sometimes a company's best strategic option is to seize the initiative, go
on the attack, and launch a strategic offensive to improve its market position
Principal Offensive Strategy Options - Answer-1. Offer an equally good or better product at a lower
price.
2. Leapfrog competitors by being first to market with next-generation products.
3. Pursue continuous product innovation to draw sales and market share away from less innovative
rivals.
4. Pursue disruptive product innovations to create new markets.
5. Adopt and improve on the good ideas of other companies (rivals or otherwise).
6. Use hit-and-run or guerrilla marketing tactics to grab market share from complacent or distracted
rivals.
, 7. Launch a preemptive strike to secure an industry's limited resources or capture a rare opportunity
Defensive Strategies - Answer-Can help protect a competitive advantage but rarely are the basis for
creating one
First Mover Advantages - Answer-If market responds well to its initial move, the pioneer will benefit
from a monopoly position that enables it to recover its investment costs and make an attractive profit
First Mover Disadvantages - Answer-1. When costs are high relative to the benefits accrued and
imitative followers can achieve similar benefits with far lower costs.
2. When an innovator's products are somewhat primitive and do not live up to a buyer expectations
3. When rapid market evolution gives second movers the opening to leapfrog a first mover's products
with more attractive next-version products
4. When market uncertainties make it difficult to ascertain what will eventually succeed, allowing late
movers to wait until these needs are clarified
5. When customer loyalty to the pioneer is low and first mover's skills, know-how, what actions are
easily copied or even surpassed
Scope of the Firm - Answer-refers to the range of activities that the form performs internally, the
breadth of its product and service offerings, the extent of its geographic market presence, and its mix of
businesses.
Horizontal Scope - Answer-the range of product and service segments that a firm serves within its focal
market
Vertical Scope - Answer-the extent to which a firm's internal activities encompass the range of activities
that make up and industry's entire value chain system, from raw-material production to final sales and
service activities
Threat Analysis - Answer-the awareness of close competitors and the kinds of actions they make
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Zanaya. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
80796 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now