SEVI 3013 EXAM 2 WITH COMPLETE
SOLUTIONS
mass customization - ANS-A firm's ability to manufacture unique products in small
quantities at low cost is known as
New competitors may enter lucrative niche markets.
Cost advantages for the focus segment may become eroded over time.
Companies may become too focused to satisfy buyer needs. - ANS-Which of the
following are pitfalls of using a focus strategy?
link their value chain with the value chains of their customers and suppliers - ANS-
Companies can use combination strategies with technology to
generic - ANS-Michael Porter presented three ______ strategies to achieve competitive
advantage by overcoming the five forces.
use multiple forms of competitive advantage (e.g., cost leadership and differentiation)
outperform those that do not - ANS-Research has found that companies that ______.
globalized trade
competitors' actions
technological advancements - ANS-Which of the following can erode a company's
competitive advantage? (Check all that apply.)
Introduction
Growth
Maturity
Decline - ANS-Name the stages of the industry life cycle in the correct order, with the
first stage at the top.
growing competition
developing brand recognition
increasing sales revenues
financing complementary value-chain activities - ANS-Which of the following are
characteristics of the growth stage?
Allow a product to assume a new competitive position in its category.
Move a product from maturity backward into a growth position. - ANS-Which of the
following are goals of reverse positioning?
SOLUTIONS
mass customization - ANS-A firm's ability to manufacture unique products in small
quantities at low cost is known as
New competitors may enter lucrative niche markets.
Cost advantages for the focus segment may become eroded over time.
Companies may become too focused to satisfy buyer needs. - ANS-Which of the
following are pitfalls of using a focus strategy?
link their value chain with the value chains of their customers and suppliers - ANS-
Companies can use combination strategies with technology to
generic - ANS-Michael Porter presented three ______ strategies to achieve competitive
advantage by overcoming the five forces.
use multiple forms of competitive advantage (e.g., cost leadership and differentiation)
outperform those that do not - ANS-Research has found that companies that ______.
globalized trade
competitors' actions
technological advancements - ANS-Which of the following can erode a company's
competitive advantage? (Check all that apply.)
Introduction
Growth
Maturity
Decline - ANS-Name the stages of the industry life cycle in the correct order, with the
first stage at the top.
growing competition
developing brand recognition
increasing sales revenues
financing complementary value-chain activities - ANS-Which of the following are
characteristics of the growth stage?
Allow a product to assume a new competitive position in its category.
Move a product from maturity backward into a growth position. - ANS-Which of the
following are goals of reverse positioning?
