BPS TEST QUESTIONS AND ANSWERS

BPS TEST QUESTIONS AND
ANSWERS

What affects competitive behavior - Answer-Awareness
Motivation
Ability

When competitors are aware of each other - Answer-Rapid and intense competition
tends to be restrained

First mover advantage can be significant in: - Answer-Fast cycle markets
customer loyalty can be built
If market share gained is sticky

Being a first mover is ____ - Answer-Risky

Which strategy is best and significant in a fast cycle market? - Answer-First mover
strategy

The goal of business strategy - Answer-To create and sustain competitive advantage

3 key principles of strategic positioning - Answer-Strategy is the creation of a unique
and valuable position

Strategy requires trade offs in competing

Strategy invovles creating a fit among activities

TRAITS OF "Strategy is the creation of a unique and valuable position" - Answer-Few
needs, many customers

Broad needs, few customers

Broad needs, many customers

Strategy involves three things: - Answer-Thinking
Deciding
Doing