Ati med surg proctored exam 2023/2024 correct and verified answers graded A+

BUS 475 2023/2024 Exam 2 Correct and Verified Answe rs Graded A+ 1.While there are many routes to competitive advantage, the two biggest factors that distinguish one competitive strategy from another are A. Whether a company can build a brand name and an image that buyers trust. B. Whether a company can offer the lowest possible prices and whether the company can get the best suppliers in the market. C. Whether a company's target market is broad or narrow and whether the company is pursuing a low cost or differentiation strategy. D. Whether a company can achie C. Whether a company's target market is broad or narrow and whether the company is pursuing a low cost or differentiation strategy. 2.The major avenues for achieving a cost advantage over rivals include A. Paying lower wages and salaries than rivals. B. Having a management team that is highly skilled in cutting costs. C. Outsourcing high -cost activities to cost -efficient vendors. D. Being a first -mover in adopting the latest state -of-the-art technologies, especially those relating to low -cost manufacture. E. Performing value chain activities more cost -effectively than rivals or revamping the firm's overall value chain to elim E. Performing value chain activities more cost -effectively than rivals or revamping the firm's overall value chain to eliminate or bypass some cost -producing activities. 3.A potato chip manufacturer purchases a potato farm. Which of the following regarding its strategy is true? A. The manufacturer has effectively used vertical integration to increase its bargaining position and reduce transaction costs. B. The manufacturer has effectively reduced its operating costs by outsourcing its activities. C. The manufacturer has sacrificed quality by using a lower -cost input. D. The manufacturer has enhanced utilization by allowing depreciation and other fixed costs to be A. The manufacturer has effectively used vertical integration to increase its bargaining position and reduce transaction costs. 4.The essence of a broad differentiation strategy is to A. Appeal to the high -end part of the market and concentrate on providing a top -of-the-line product to consumers. B. Incorporate a greater number of differentiating features into its products/services than rivals. C. Offer unique product attributes in ways that are valuable and appealing and that buyers consider worth paying for. D. Lower buyer switching costs. E. Outspend rivals on advertising and promotion in order to inform and convince b C. Offer unique product attributes in ways that are valuable and appealing and that buyers consider worth paying for. 5.A differentiation strategy works best when A. Many rival firms are also pursuing a differentiation approach. B. Buyer's needs are homogeneous. C. There are few other ways to make a product unique to buyers. D. Technological change is fast -paced and competition revolves around rapidly evolving product features. E. Firms have ample excess cash to invest in R&D activities. D. Technological change is fast -paced and competition revolves around rapidly evolving product features. 6.A healthy fast -casual restaurant that offers only vegetarian and vegan meals insists on portraying organic ingredients in its advertisements, charges a higher price for its meals, and has a rigorous quality control process to insure the cleanliness of its facilities. What strategy is the manufacturer using to deliver superior value to customers? A. Leveraging its power over suppliers. B. Signaling value by targeting sophisticated buyers. C. Lowering the buyer's overall cost. D. Incorporating ta B. Signaling value by targeting sophisticated buyers. 7.A low -cost provider strategy can defeat a differentiation strategy when A. Sellers are not charging a price premium. B. There are few ways to differentiate a product or a service and many buyers perceive these