MIE 480 TEST 2 TERMS STSUDY GUIDE
100% VERIFIED.
Business-Level Strategy - ANS An integrated and coordinated set of commitments and actions
the firm uses to gain a competitive advantage by exploiting core competencies in specific
product markets.
Core Compentencies - ANS Resources and superior capabilities that are sources of
competitive advantage over a firm's rivals
Strategy - ANS An integrated and coordinated set of actions taken to exploit core
competencies and gain competitive advantage
Reach - ANS firm's access and connection to customers
Richness - ANS depth and detail of two-way flow of information between the firm and the
customer
Affiliation - ANS facilitation of useful interactions with customers
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
1
, Cost Leadership Stategy - ANS An integrated set of actions taken to produce goods or services
with features that are acceptable to customers at the lowest cost, relative to that of
competitors.
Differentiation Strategy - ANS An integrated set of actions taken to produce goods or services
(at an acceptable cost) that customers perceive as being different in ways that are important to
them.
Focus Strategies - ANS An integrated set of actions taken to produce goods or services that
serve the needs of a particular competitive segment.
Competitors - ANS Are firms operating in the same market, offering similar products, and
targeting similar customers.
Competitive Rivalry - ANS Is the ongoing set of competitive actions and responses occurring
between competitors.Influences an individual firm's ability to gain and sustain competitive
advantages.
Competitive Behavior - ANS The set of competitive actions and competitive responses the
firm takes to build or defend its competitive advantages and to improve its market position.
Multimarket Competition - ANS Firms competing against each other in several product or
geographic markets.
Competitive Dynamics - ANS The total set of actions and responses taken by all firms
competing within a market.
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
2
100% VERIFIED.
Business-Level Strategy - ANS An integrated and coordinated set of commitments and actions
the firm uses to gain a competitive advantage by exploiting core competencies in specific
product markets.
Core Compentencies - ANS Resources and superior capabilities that are sources of
competitive advantage over a firm's rivals
Strategy - ANS An integrated and coordinated set of actions taken to exploit core
competencies and gain competitive advantage
Reach - ANS firm's access and connection to customers
Richness - ANS depth and detail of two-way flow of information between the firm and the
customer
Affiliation - ANS facilitation of useful interactions with customers
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
1
, Cost Leadership Stategy - ANS An integrated set of actions taken to produce goods or services
with features that are acceptable to customers at the lowest cost, relative to that of
competitors.
Differentiation Strategy - ANS An integrated set of actions taken to produce goods or services
(at an acceptable cost) that customers perceive as being different in ways that are important to
them.
Focus Strategies - ANS An integrated set of actions taken to produce goods or services that
serve the needs of a particular competitive segment.
Competitors - ANS Are firms operating in the same market, offering similar products, and
targeting similar customers.
Competitive Rivalry - ANS Is the ongoing set of competitive actions and responses occurring
between competitors.Influences an individual firm's ability to gain and sustain competitive
advantages.
Competitive Behavior - ANS The set of competitive actions and competitive responses the
firm takes to build or defend its competitive advantages and to improve its market position.
Multimarket Competition - ANS Firms competing against each other in several product or
geographic markets.
Competitive Dynamics - ANS The total set of actions and responses taken by all firms
competing within a market.
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
2
