All of the following are considered generic business-level strategies except

Q: What are the 5 generic strategies?

What are Porters Generic Strategies?.

Q: What are the 3 generic business strategies?

Porter called the generic strategies Cost Leadership (no frills), Differentiation (creating uniquely desirable products and services) and Focus (offering a specialized service in a niche market).

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What are the 4 generic business level strategies?
What are the 5 generic strategies?
What are the 3 generic business strategies?
Who developed the 4 generic strategies?

QuestionAnswer Business-level strategies detail commitments and actions taken to provide value to customers and gain competitive advantage by exploiting core competencies in: a. the selection of industries where firm competes b. specific product markets. b. specific product markets. A firm's core strategy is its ____ strategy. a. corporate b. business c. pricing d. international b. business When selecting a business level strategy, the firm must determine all of the following EXCEPT: a. who is the customer? b. what are the customers' needs? c. why should these customers' needs be satisfied? c. why should these customers' needs be satisfied? The three dimensions of a firm's relationships with customers include all the following EXCEPT: a. exclusiveness. b. affiliation. c. richness. d. reach. a. exclusiveness. Which of the following is TRUE? a. As customer loyalty increases, customers are more sensitive to price increases. b. Customer loyalty has a positive relationship with firm profitability. b. Customer loyalty has a positive relationship with firm profitability. The ________dimension of relationships with customers is particularly important for social networking sites such as Facebook and Twitter. a. reach b. richness c. affiliation d. social a. reach Amazon has built capabilities around Internet technology and e-commerce to facilitate information exchanges with its customers in a cost effective manner. This represents which of the three service a. Reach b. Richness c. Affiliation b. Richness Viewing the world through the customer's eyes and constantly seeking ways to create more value for the company enhances: a. the reach of the company toward the customer. b. affiliation with the customer. b. affiliation with the customer. Before the firm decides what products to offer and what benefits and features they will have, the firm must decide all the following questions EXCEPT: a. who the firm should serve. b. when the customer's needs should be satisfied. b. when the customer's needs should be satisfied. In the animal food products business, food-product needs of owners of companion animals pets (e.g., dogs and cats) differ from the needs for food and health-related products of a. Who: Determining the Customers to Serve Starbuck's determined that all of the following customer needs were important EXCEPT: a. low price. b. the experience associated with drinking coffee, not just the coffee. a. low price. Hyundai allows customers to return their cars if they lose their job within 12 months of purchase. Which of the following aspects of managing custom a. Who: Determining the Customers to Serve b. What: Determining Which Customer Needs to Satisfy b. What: Determining Which Customer Needs to Satisfy An interior decorator has moved his business from Los Angeles to St. Paul, Minnesota a. The decorator does not understand b. The decorator has no core competencies c. The decorator should choose d. The decorator is highly affiliated . a. The decorator does not understand that customer needs are neither right nor wrong, good nor bad. In order to meet and exceed customer's expectations, firms must: a. continuously improve, innovate, and upgrade their core competencies. b. successfully defend their established core competenci a. continuously improve, innovate, and upgrade their core competencies. Business-level strategies are concerned specifically with: a. creating differences between the firm's position and its competitors. b. selecting the industries in which the firm will compete. c. how functional areas will be organized wit a. creating differences between the firm's position and its competitors. An entrepreneur is investigating starting a company that provides tax advice to small companies: a. analyze the reach, richness, and affiliation the company must have with its customers. b. provide tax advice either in a b. provide tax advice either in a different manner or provide a different kind of tax service than competitors. Which of the following are central to implementing value-creating strategies and thereby satisfying customers' needs? a. Firm resources b. Capabilities c. Core competencies d. None of the the above c. Core competencies The analysis of the activity map of a successful company such as Southwest Airlines emphasizes how: a. the organizational culture b. understanding the profit abilit c. it is hard for rivals to match d. the primary and support activities c. it is hard for rivals to match a configuration of integrated activities than to imitate a single activity. By examining the ____ of Southwest Airlines, one can identify the strategic themes around which it has developed its business strategy. a. activity map b. profit sharing c. value diagram d. five forces model a. activity map If Southwest Airlines employees lost their high enthusiasm and commitment to the company: a. the airline could continue b. replacement employees could be c. there would be no impact on d. Southwest would have lost one of i d. Southwest would have lost one of its competitive advantages, and its performance would be threatened.c Strategic fit among many activities (in an activity map) is fundamental to: a. the development of core competencies for a firm. b. the breadth of competitive scope for a firm. c. sustainability of a firm's competitive advantage. c. sustainability of a firm's competitive advantage. All of the following are considered generic business-level strategies EXCEPT: a. product diversification. b. cost leadership. c. focused differentiation. d. integrated cost leadership/differentiation. a. product diversification. A company using a narrow target market in its business strategy is: a. following a cost leadership business strategy. b. focusing on a broad array of geographic markets. c. limiting the group of customer segments served. c. limiting the group of customer segments served. As the television industry has changed in the last few decades from just three major networks to a multiplicity of networks, a. broader target market b. narrower target market c. increased use of primary activities to capture value b. narrower target market The effectiveness of any of the generic business-level strategies is contingent upon: a. customer needs and competitors' strategies. b. the match between the opportunities an c. the trends in the general consumer base b. the match between the opportunities an A cost leadership strategy provides goods or services with features that are: a. acceptable. b. unique. c. substandard. d. mediocre. a. acceptable. A cost leadership strategy targets the industry's ____ customers. a. most typical b. poorest c. least educated d. most frugal a. most typical Durable Ceramics, Inc., provides inexpensive ceramic tile to builders of institutional buildings such as a. both Durable and Cost-Less b. Durable will be unable to c. both Cost-Less and Durable will d. Cost-Less will d. Cost-Less will go out of business, and Durable will gain higher power over its customers. Research suggests that having a competitive advantage in ____ creates more value in the cost leadership strategy than it does in the differentiation strategy. a. marketing and sales b. technology development c. logistics . logistics A river barge company can offer cheaper, although slower, per pound transportation of product a. the integrated cost leadership/differentiation strategy. b. either of the focus strategies. c. the cost leadership strategy. c. the cost leadership strategy. Walmart went against business-level strategy and made changes to attract upscale customers. a. It strengthened Walmart's position against rivals such as Dollar Stores and Amazo b. It made Walmart vulnerable to Dollar Store and Amazon. b. It made Walmart vulnerable to Dollar Store and Amazon Walmart's same store sales have been declining and those of rivals Family Dollar and Amazon have been increasing. a. Walmart changed its strategy to focused differentiation. b. Walmart changed its strategy to attract more upscale customer d. Walmart changed its strategy to attract more upscale customer A company pursuing the differentiation or focused differentiation strategy would tend to: a. build economies of scale and efficient operations. b. develop and maintain . c. develop flexible systems d. have relationships with suppliers c. develop flexible systems that allow rapid response to customers' changing needs. When the costs of supplies increase in an industry, the low-cost leader: a. may continue competing with rivals b. will lose customers as a result of price increases. c. will be unable to absorb d. may be the only firm d. may be the only firm able to pay the higher prices and continue to earn average or above-average returns. Ever-improving levels of efficiency enhance profit margins for a cost-leader. This effects which of the five forces of industry structure most directly? a. Potential entrants b. Substitutes c. Buyer power d. Supplier power a. Potential entrants The typical risks of a cost leadership strategy include: a. the inability to balance high differentiation and low price. b. production and distribution processes c. excessive differentiation to d. loss of customer loyalty. b. production and distribution processes becoming obsolete. When a firm is able to produce nonstandardized (that is, distinctive) a. a differentiation strategy. b. a cost leadership strategy. c. an integrated cost leadership/differentiation strategy. d. a single-product strategy. a. a differentiation strategy. A firm successfully implementing a differentiation strategy would expect: a. customers to be sensitive to price increases. b. to charge premium prices. c. customers to perceive the product as standard. b. to charge premium prices. The products or services that are differentiated from others, have qualities that are: a. perceived by the customer to add value that they will pay a premium to purchase. b. valued by the typical industry customer. a. perceived by the customer to add value that they will pay a premium to purchase. . Blind taste-tests have shown that the taste of premium-priced vodkas and inexpensive vodkas are indistinguishable even to regular drinkers of vodka. a. the perception of perceived prestige b. the importance of high-quality raw materials a. the perception of perceived prestige and status as a means of differentiating a product. All of the following are examples of differentiated products EXCEPT: a. Mont Blanc pens. b. Caterpillar's heavy-duty earth-moving equipment. c. Great Value brand at Walmart. d. Prada fashion. c. Great Value brand at Walmart. The use of a differentiation strategy would be expected to be LEAST effective in which of the following markets? a. Commodity goods b. Mmotion pictures c. Popular music d. Writing instruments a. Commodity goods All of the following are ways that a good or service can be differentiated EXCEPT: a. responsive customer service. b. perceived prestige and status. c. economies of scale and efficient operations. d. engineering design and performance. c. economies of scale and efficient operations. The differentiation strategy can be effective in controlling the power of rivalry with existing compe a. customers will seek out the lowest-cost product. b. customers of nondifferentiated products c. customers are loyal to brands c. customers are loyal to brands that are differentiated in meaningful ways. Wholesome Pet Food has successfully specialized for 20 years a. Wholesome will probably be able b. Companies pursuing Wholesome's business strategy are especially vulnerable to this risk. a. Wholesome will probably be able to pass the cost on to its customers because they are less sensitive to price increases than the average buyer. . Which of the following is NOT a value-creating activity associated with the differentiation strategy? a. Developing policies to ensure efficient b. Providing accurate and timely delivery of goods to customers. . Developing policies to ensure efficient hiring and retention to keep costs low and implement training to ensure high employee efficiency. A differentiation strategy can be effective in controlling the power of substitutes in an industry because b. substitute products are lower quality. c. a differentiating firm can always lower prices. d. customers develop brand loyalty. d. customers develop brand loyalty. Recently, the only type of car available for Anthony to rent on a business trip was a compact, fuel-efficient Japanese import. a. a competitor's products b. a product imitation c. experience can narrow c. experience can narrow A manufacturer of jewelry imitates the style of a popular and expensive brand using manufactured stones rather tha. customer sensitive to price differentials b. threat by the cost leader c. customer experience d. counterfeiting d. counterfeiting The typical risks of a differentiation strategy do NOT include which of the following? a. Customers may find b. Customers' experience c. Counterfeit goods are d. Suppliers of raw materials d. Suppliers of raw materials When implementing a focus strategy, the firm seeks to: b. move into the global market. c. target the typical customer in an industry. d. serve the specialized needs of a market segment. d. serve the specialized needs of a market segment. The focused differentiation strategy differs from the differentiation strategy in that: a. the focused differentiators have a broader competitive scope. b. the value-creating activities c. focused differentiators target a c. focused differentiators target a narrower customer market. Chico's is a clothing retailer that targets middle-aged women who want stylish and app a. focused differentiation based on a buyer group b. focused differentiation based on a product line segment c. generic differentiation a. focused differentiation based on a buyer group The new generation of lunch trucks serving high-end fare in cities such as New York, San Francisco, and Los Angeles share which of the following a business strategies? a. Cost leadership b. Focused differentiation b. Focused differentiation The Monteleone Company pays large fees to a highly recognizable, prestigious individual a. focused cost leadership strategy. b. focused differentiation strategy. b. focused differentiation strategy. Focus strategies are: a. sheltered from the risks b. able to avoid global risk c. faced with additional types of risks than are industry-wide strategies. d. more subject to failure than industry-wide strategies. c. faced with additional types of risks than are industry-wide strategies. New Balance Athletic Shoes target Baby Boomers' needs for well-fitting shoes. The company is unique in that it offers a very broad range of shoe widths. a. Baby Boomers may find that b. a competitor may be able b. a competitor may be able to better use flexible manufacturing systems to make shoes with an individualized fit. Suppose another firm found a way to offer IKEA's customers (young buyers interested in stylish furniture at low cost) a. An industry-wide competitor decides that the market segment served by IKEA is worth entering. b. Focusing on a more narrowly b. Focusing on a more narrowly defined segment and "outfocusing" the focuser. additional sources Zara has pioneered "cheap chic" in clothing apparel. Zara offers current and desirable fashion goods at relatively low prices. a. Cost leadership b. Differentiation c. Integrated cost leadership/differentiation d. Stuck in the middle c. Integrated cost leadership/differentiation Firms use the integrated cost leadership/differentiation strategy because a. other firms have established unassailable market dominance with the other four strategies. b. global markets allow c. most consumers want to pay a c. most consumers want to pay a low price for products with somewhat highly differentiated features The integration of a cost leadership and a differentiation strategy: a. is challenging because b. forces a firm to adapt more slowly to changes in its environment. a. is challenging because it increases the number of value-chain activities and support functions in which the firm must become competent. Target's brand promise "Expect More. Pay Less" and appeal to higher-income, a. cost leadership b. differentiatio c. focused differentiation d. integrated cost leadership/differentiation d. integrated cost leadership/differentiation J.C. Penney attempted the strategy ______ . But it couldn't out ______ Walmart, nor could it ______ Macy's and Target. a. of integrated cost leadership; price; compete with b. of focused differentiation; cost; differentiate between a. of integrated cost leadership; price; compete with The benefit of a flexible manufacturing system is that: a. the lot size needed to manufacture a firm's product efficiently is reduced b. the necessary skill levels of workers are reduced, allowing the firm to reduce costs. a. the lot size needed to manufacture a firm's product efficiently is reduced A flexible manufacturing system is: a. based on the use of temporary and part-time employees as well as outsourcing. b. a computer-controlled process b. a computer-controlled process that is used to produce a variety of products in moderate, flexible quantities with minimal human intervention. A nationwide chain of pet stores wishes to identify the tradeoffs that its customers are willing to make between low-cost products a. information networks. b. a flexible manufacturing system. c. differentiation development planning. a. information networks. By linking companies with their suppliers, distributors, and customers, ____ provide a company with flexibility. a. flexible manufacturing systems b. information networks c. Total Quality Management systems d. capabilities b. information networks TQM is most helpful to firms following the ____ business strategy. a. cost leadership b. integrated cost leadership/differentiation c. focused cost leadership d. focused differentiation b. integrated cost leadership/differentiation The term "stuck in the middle": a. means adhering to a middle of the road strategy in the face of negative outcomes. d. means that the firm's cost structure i d. means that the firm's cost structure is not low enough to allow it to attractively price its products and that its products are not sufficiently differentiated to create value for its target customer. All of the following describe strategies EXCEPT: a. they are purposeful. b. they cannibalize the old strategy. c. they precede the taking of actions to which they apply. b. they cannibalize the old strategy. More choices and easily accessible information about the functionality of firms' products are creating increasingly ______ customers. a. sophisticated and knowledgeable b. loyal c. dissatisfied d. content a. sophisticated and knowledgeable The ______ dimension of relationships with customers is concerned with the firm's access and connection to customers. a. loyalty b. reach c. richness d. affiliation b. reach Reach is an especially critical dimension for which firm? a. Google b. J.C. Penney c. Blockbuster d. Colgate-Palmolive a. Google Customer ratings of products they bought online is an example of: a. loyalty. b. reach. c. richness. d. affiliation. c. richness. A company selling diapers knows the market is for people with young children. However, within that segment they can further divide the market by a demographic factor like: a. culture. b. lifestyle. c. consumption pattern. d. income. d. income. When firms use core competencies to implement value-creating strategies they are answering the "______" question. a. who b. what c. why d. how d. how Stage in the family life cycle is a ______ factor. a. demographic b. socioeconomic c. psychological d. perceptual b. socioeconomic The book The Dyslexic Advantage appeals to a market of educators, people with dyslexia, their friends, family, and coworkers. This is customer segmentation by ______ factors. a. demographic b. socioeconomic c. psychological c. psychological Religious beliefs are an example of customer segmentation by ______ factors. a. demographic b. socioeconomic c. geographic d. psychological d. psychological Historically, women have paid more for dry cleaning than men. Signature Cleaners advertises "equal price" for all customers. Signature Cleaners appeals to women, which is market segmentation by ______ fact a. demographic b. socioeconomic a. demographic Chelsea Milling Company makes Jiffy packaged baking mixes. It was established in 1930. It has never spent a. differentiation b. focused differentiation c. integrated cost leadership/differentiation d. cost leadership d. cost leadership Mercedes mass produces luxury vehicles at a premium price. It uses a(n) ______ strategy. a. differentiation b. focused differentiation c. integrated cost leadership/differentiation d. focused cost leadership a. differentiation A firm using a(n) ______ strategy generally needs to operate "below the radar" of larger and more resource rich firms that serve the broader market. a. cost leadership b. differentiation c. focused d. integrated cost c. focused

What are the 4 generic business level strategies?

Four generic business-level strategies emerge from these decisions: (1) broad cost leadership , (2) broad differentiation , (3) focused cost leadership , and (4) focused differentiation . In rare cases, firms are able to offer both low prices and unique features that customers find desirable.

What are the 5 generic strategies?

What are Porter's Generic Strategies?.

Cost Leadership Strategy..

Differentiation Strategy..

Cost Focus Strategy..

Differentiation Focus Strategy..

What are the 3 generic business strategies?

Porter called the generic strategies "Cost Leadership" (no frills), "Differentiation" (creating uniquely desirable products and services) and "Focus" (offering a specialized service in a niche market).

Who developed the 4 generic strategies?

According to Michael Porter, there are four generic strategies. Under the Cost leadership strategy, the organization target for a broad, large scale market. They provide the lowest possible prices to attract customers.

considered generic business-level strategies