A) Learning curves are captured at one point in time when output is increased.
B) Learning curves can be observed in manufacturing processes and professional services.
C) As cumulative output increases, the learning curve becomes less steep.
D) The steeper the learning curve, the lesser the learning effects.
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A) Choosing a strategic position requires making important trade-offs between value and cost positions.
B) Strategic positions are fixed; they do not change like the environment.
C) Differentiation and cost leadership require similar strategic positions.
D) A firm is said to have a competitive advantage when it ends up with strategic positions below the productivity frontier.
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A) automobile company that sells pre-owned cars.
B) automobile company that sells high-end, premium cars.
C) automobile company that manufactures economy cars.
D) pen manufacturing company that follows a differentiation strategy.
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A) investments in differentiation are complements.
B) value and cost exhibit a positive correlation.
C) low cost acts as a substitute.
D) investments in process and product technologies are substitutes.
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A) mass customization
B) economies of scope
C) learning-curve effect
D) network effect
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A) gain a market share and make up the loss in margin through increased sales.
B) create higher value creation and thus generate greater profit margins.
C) gain a market share and make up the loss in margin through increased pricing.
D) create higher value creation and thus generate greater sales.
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A) a tennis pro shop that sells low-quality racquets priced at 150 dollars per racquet
B) a coffee shop that offers mediocre lattes at a price of five dollars for a small latte
C) a hotel chain that offers high-quality service with room rates of under 75 dollars per night
D) a cosmetics brand that offers superior-quality skin lotion priced at 100 dollars per bottle
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A) firm has tangible resources, its focus of competition shifts to price, and equivalent substitutes are readily available.
B) firm's focus of competition shifts to price, and when increasing differentiation of product features do not create additional value.
C) firm's differentiated products are commoditized, and costs of providing uniqueness do not rise above the customer's willingness to pay.
D) firm has intangible resources, is able to pass on increases in supplier cost to the customer, and its differentiation appeal creates customer loyalty.
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A) charge a premium price for its products and services.
B) build an organizational culture where creativity and customer responsiveness thrive.
C) focus its research and development on process technologies to improve efficiency.
D) avoid an organizational structure that relies on strict budget controls.
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A) create the highest perceived value in its respective industry.
B) build a reputation of being the lowest-cost producer in its chosen industry.
C) offer a differentiated product or service at a low cost.
D) achieve a less steeper learning curve.
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