MGT 4150 Ch 1 Exam Questions With
Correct Answers 2025 New Update
A sound company strategy is essentially about Blank______ in comparison to company
rivals. - Answers - ✔✔competing differently
What is one key characteristic of a focused low-cost strategy? - Answers - ✔✔it seeks
to sell to a narrow market niche.
What choices must managers consider when committing to a company strategy for
competing against rival companies? - Answers - ✔✔how to attract customers
how to capitalize on growth opportunities
how to respond to market conditions
In what ways does a competitive advantage benefit a business? - Answers - ✔✔larger
profits
greater success in the marketplace
A company's realized strategy is a combination of - Answers - ✔✔proactive and
reactive elements
What are the two basic ways that companies achieve competitive advantage over their
business rivals? - Answers - ✔✔by delivering higher perceived value to customers
by producing products or services at a lower cost
Which three companies have broad differentiation strategies that have allowed them to
maintain long-term competitive advantages? - Answers - ✔✔Johnson & Johnson,
BMW, Apple
A company's approach to meeting or exceeding its customers' needs at a price they
consider a good value is called the - Answers - ✔✔customer value proposition
What aspect of a company's operations is usually the easiest thing for competitors to
duplicate? - Answers - ✔✔attributes of the company's products or services
What is the purpose of the fit test? - Answers - ✔✔to determine how well a strategy
matches the company's situation
Which statement about the connection between good strategy and good execution is
true? - Answers - ✔✔good management consists of good strategy and good strategy
execution
Correct Answers 2025 New Update
A sound company strategy is essentially about Blank______ in comparison to company
rivals. - Answers - ✔✔competing differently
What is one key characteristic of a focused low-cost strategy? - Answers - ✔✔it seeks
to sell to a narrow market niche.
What choices must managers consider when committing to a company strategy for
competing against rival companies? - Answers - ✔✔how to attract customers
how to capitalize on growth opportunities
how to respond to market conditions
In what ways does a competitive advantage benefit a business? - Answers - ✔✔larger
profits
greater success in the marketplace
A company's realized strategy is a combination of - Answers - ✔✔proactive and
reactive elements
What are the two basic ways that companies achieve competitive advantage over their
business rivals? - Answers - ✔✔by delivering higher perceived value to customers
by producing products or services at a lower cost
Which three companies have broad differentiation strategies that have allowed them to
maintain long-term competitive advantages? - Answers - ✔✔Johnson & Johnson,
BMW, Apple
A company's approach to meeting or exceeding its customers' needs at a price they
consider a good value is called the - Answers - ✔✔customer value proposition
What aspect of a company's operations is usually the easiest thing for competitors to
duplicate? - Answers - ✔✔attributes of the company's products or services
What is the purpose of the fit test? - Answers - ✔✔to determine how well a strategy
matches the company's situation
Which statement about the connection between good strategy and good execution is
true? - Answers - ✔✔good management consists of good strategy and good strategy
execution
