Exam 5: Business-Level Strategy

A) cost leadership.
B) differentiation.
C) focused integration.
D) integrated cost leadership/differentiation.

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A) A competitor is outfocusing Rolex.
B) A company that serves the broad market is targeting Rolex's market.
C) Rolex's target customer has changed to be more like the customer in the broad market.
D) Rolex has neglected a key aspect of its value chain.

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Implementing the integrated cost leaders...

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A) uniqueness.
B) value for the money.
C) luxuriousness.
D) high-technology.

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A) the industry's average customer.
B) low income consumers.
C) the segment of consumers who desire high quality at a low cost.
D) consumers who are being poorly served by competing organizations.

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A) supply and demand.
B) competitive scope and cost leadership.
C) narrow or broad target market.
D) competitive advantage and competitive scope.

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The cost leadership strategy needs a fun...

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A) Anon
B) McDonald's
C) Boeing
D) Ritz-Carlton

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A) The customers of firms using the cost-leadership strategy prefer low quality products..
B) Firms using the cost-leadership strategy musts focus exclusively on the price of the product.
C) Cost-leaders tend to be oblivious to competitors' product innovations.
D) Firms using the cost-leadership strategy usually target their products at the largest market segment possible.

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A) advertise the durability of its products.
B) maintain average to lower-than average costs of raw materials.
C) monitor for counterfeit products.
D) monitor prices of leather goods sold by mass merchandisers.

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A) After a firm reaches a certain size, it needs multiple business-level strategies.
B) Diversified firms need multiple business- level strategies.
C) The simple structure is being replaced by the functional structure because of its inability to cope with the complexity of the modern economic environment.
D) Once an organization develops the right structure, this structure will keep the organization "on course" indefinitely.

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A) continually increasing its level of efficiency.
B) negotiating tough short-term contracts with suppliers.
C) maintaining lower prices than its competitors.
D) selling to a large number of buyers.

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B

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True

A) if the firm fails to produce somewhat differentiated products at low costs.
B) if the firm's products are too differentiated for the mass market.
C) if the firm's products are too expensive for the target market.
D) if competitors are able to imitate its strategy.

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A) K-Mart with its Martha Stewart collection
B) T J Maxx the discount retailer
C) Land's End (catalog and Internet retailer) with its At Home collection
D) the White Elephant, a local second-hand and consignment shop

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A) is produced according to any corporate code of ethics.
B) costs less than similar products offered by competing firms.
C) is unique in the marketplace.
D) creates value for them.

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