A) buyers are looking for the best value at the best price.
B) buyers are looking for a budget-priced product.
C) buyers are price sensitive and are attracted to brands with low switching costs.
D) a market is emerging and demand in the target market niche is growing rapidly and is served by industry-wide competitors
E) a firm can lower costs significantly by limiting its customer base to a well-defined buyer segment.
G) B) and E)
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A) tout the company's lower prices.
B) tout the lack of frills and extras.
C) out-advertise rivals and make frequent use of discount coupons.
D) communicate the attractive features of a budget-priced product offering that fits niche members' expectations.
E) communicate the product's ability to serve the customer's every need.
G) A) and E)
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A) A low-cost provider strategy
B) A broad differentiation strategy
C) A focused low-cost strategy
D) A focused differentiation strategy
E) A best-cost provider strategy
G) A) and E)
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A) there are many ways to achieve product differentiation that buyers find appealing.
B) buyers use the product in a variety of different ways and have high switching costs in changing from one seller's product to another.
C) the offerings of rival firms are essentially identical,standardized,commodity-like products.
D) entry barriers are high and competition from substitutes is relatively weak.
E) the market is composed of many distinct segments with varying buyer needs and expectations.
G) A) and B)
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A) Striving to ensure a corporate diversity policy is introduced with effective controls
B) Using the company's strong bargaining power vis-à-vis suppliers or others in the value chain
C) Being alert to the cost advantages of outsourcing or vertical integration
D) Striving to capture all available economies of scale
E) Motivating employees through incentives and company culture
G) B) and C)
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A) diverse buyer preferences make product differentiation the norm and where a large number of value-conscious buyers can be induced to purchase mid-range products.
B) a company is positioned between competitors who have ultra-low prices and competitors who have top-notch products in terms of both quality and performance.
C) buyers are more quality-conscious than price-conscious.
D) there are numerous buyer segments,buyer needs are diverse across these segments,only a few of the segments are growing rapidly,and sellers' products are strongly differentiated.
E) buyers are more performance-conscious than value-conscious.
G) A) and B)
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A) A set of factors (analogous to cost drivers) that are particularly effective in having a strong differentiation effect
B) A firm's hidden success factor for creating over-the-top product features that will command the highest price in the industry
C) A technique for easily identifying factors that validate a firm's performance
D) A set of factors that verify the unique nature of a firm
E) A set of guidelines for identifying the most promising upscale attributes to incorporate into a product
G) All of the above
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A) relying too heavily on outsourcing.
B) getting squeezed between the strategies of firms employing low-cost provider strategies and high-end differentiation strategies.
C) getting trapped in a price war with low-cost leaders.
D) being timid in cutting its prices far enough below high-end differentiators to win away many of their customers.
E) not having a sustainable distinctive competence in cost reduction.
G) B) and E)
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The keys to sustaining a focused low-cos...View Answer
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A) resources and capabilities to keep costs below those of its competitors.
B) cost-effective management of value chain activities better than rivals.
C) effective leveraging of cost drivers.
D) having the innovative capability to bypass certain value chain activities being performed by rivals.
E) capabilities to simultaneously deliver lower cost and higher-quality/differentiated features.
G) C) and E)
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E
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A) When buyer needs and preferences are too diverse to be fully satisfied by a standardized product
B) When few rivals are pursuing a similar differentiation approach
C) When the products of rivals are weakly differentiated
D) When there are many ways to differentiate a product or a service and many buyers perceive these differences valuable
E) When technological change is fast-paced and competition revolves around rapidly evolving product features
G) C) and E)
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A) under-price rival brands with comparable features.
B) tout differentiating features and charge a premium price that more than covers the extra costs of differentiating features.
C) out-advertise rivals and make frequent use of discount coupons.
D) emphasize selling directly to end-users and promoting personalized customer service.
E) communicate the product's ability to serve the customer's every need.
G) A) and B)
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B
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A) trying to differentiate on the basis of attributes or features that are easily and quickly copied.
B) choosing a product offering that supports buyers' indifference to rival brands' offerings.
C) charging a premium price for the differentiating features.
D) meeting and exceeding the meaningful gaps in quality,performance,service,and other attractive differentiating attributes offered by rivals.
E) spending on activities to differentiate the company's product to enhance profitability.
G) B) and C)
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A) nearly always is attached to the quality and service aspects of a company's product offering.
B) usually is the result of highly effective marketing and advertising to enhance the brand,raise awareness,and build consistent customer experience.
C) requires developing at least one distinctive competence that buyers consider valuable.
D) hinges on a company's success in developing top-of-the-line product features that will command the highest price premium in the industry.
E) often hinges on incorporating features that raise the performance of the product or lower the buyer's overall costs of using the company's product,or enhances buyer satisfaction in intangible or noneconomic ways,or delivers value to customers by differentiating on the basis of competencies and capabilities that rivals can't match.
G) A) and B)
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A) Value hunting buyers
B) Price-conscious buyers
C) Best-price driven buyers
D) Value-conscious buyers
E) Brand-conscious buyer
G) None of the above
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D
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A) offer customers something rivals can't,at least in terms of the level of satisfaction.
B) develop strategies that are different from those of rivals.
C) establish objectives that are measurable and meaningful when it comes to sales growth.
D) offer customers a sustainable competitive advantage.
E) offer a diverse range of comparable products with low switching costs.
G) B) and E)
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The statement is true.To succeed in empl...View Answer
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A) sell a product with the best cost at the best price.
B) have the best cost (as compared to rivals) for each activity in the industry's value chain.
C) provide buyers with the best attributes at the best cost.
D) incorporate attractive or upscale attributes into its product offering at a lower cost than rivals.
E) do a better job than rivals of adopting the best operating practices.
G) C) and D)
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A) underpricing rivals and attracting quality-sensitive buyers in great enough numbers.
B) maintaining the present price,and using the lower-cost edge to earn a higher profit margin on each unit sold.
C) going all out to use its cost advantage to capture a dominant share of the market.
D) spending heavily on advertising to promote its cost advantage to build strong customer loyalty.
E) out-producing rivals and thus having more available units for sale.
G) C) and E)
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A) Supply chain efficiencies
B) Economies of scale
C) Incentive systems and culture
D) Bargaining power
E) Capacity utilization
G) B) and C)
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