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Which of the following phrases best completes this sentence: Because of the Internet, firms that use a focus strategy have new opportunities to

Which of the following statements about the introduction stage of the market life cycle is TRUE?

A manufacturing business pursuing cost leadership will likely

All of the following are potential pitfalls of a focus strategy EXCEPT

The size of pricing and differentiation advantages between competitors decreases in which stage of the market life cycle?

A market that mainly competes on the basis of price and has stagnant growth is characteristic of what life cycle stage?

One of the reasons the Internet is eroding sustainable competitive advantages is

A __________ can be defined as the total profits in an industry at all points along the industry's value chain.

In a given market, key technology no longer has patent protection, experience is not an advantage, and there is a growing need to compete on price. What stage of its life cycle is the market in?

A differentiation strategy enables a business to address the five competitive forces by

The text discusses three approaches to combining overall cost leadership and differentiation competitive advantages. These are the following EXCEPT

The growth stage of the industry life cycle is characterized by

Which of the following is a risk (or potential pitfall) of cost leadership?

Research shows that the following are all strategies used by firms engaged in successful turnarounds EXCEPT

The experience curve suggests that cutting prices is a good strategy

High product differentiation is generally accompanied by

In the __________ stage of the industry life cycle, there are few segments, the emphasis on process design is low, and the major functional areas of concern are general management and finance.

One aspect of using a cost leadership strategy is that experience effects may lead to lower costs. Experience effects are achieved by

During the decline stage of the industry life cycle, __________ refers to obtaining as much profit as possible and requires that costs be decreased quickly.

A firm can achieve differentiation through all of the following means EXCEPT

Research has consistently shown that firms that achieve both cost leadership and differentiation advantages tend to perform

Which of the following methods of implementing a differentiation strategy has been greatly enhanced because of Internet technologies?

A successful differentiation strategy lowers entry barriers because of customers loyalty and the firm's ability to provide uniqueness in its products and services.

Dell Computer has an online ordering system that allows consumers to configure their own computers before Dell builds them. This capability is an example of

If a firm has a successful differentiation strategy, it is NOT necessary to attain parity on cost.

A narrow market focus is to a differentiation-based strategy as a

Which statement regarding competitive advantages is true?

Which of the following is FALSE regarding how a differentiation strategy can help a firm to improve its competitive position vis-à-vis Porter's five forces?

Convincing rivals not to enter a price war, protection from customer pressure to lower prices, and the ability to better withstand cost increases from suppliers characterize which type of competitive strategy?

Support value chain activities that involve excellent applications engineering support (technology development) and facilities that promote a positive firm image (firm infrastructure) characterize what generic strategy?

Which of the following is NOT one of the ways the Internet is lowering transaction costs?

Primary value chain activities that involve the effective layout of receiving dock operations (inbound logistics) and support value chain activities that include expertise in process engineering (technology development) characterize what generic strategy?

The most likely time to pursue a harvest strategy is in a situation of

One potential pitfall of a differentiation strategy is that a brand's identification in the marketplace may become diluted through excessive product line extensions.

A firm following a focus strategy

In the __________ stage of the industry life cycle, there are many segments, competition is very intense, and the emphasis on process design is high.

Which of the following is NOT one of the ways the Internet is lowering transaction costs?

All of the following are potential pitfalls of a differentiation strategy EXCEPT:

In the __________ stage of the industry life cycle, the emphasis on product design is very high, the intensity of competition is low, and the market growth rate is low.

The primary aim of strategic management at the business level is