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Competitive advantage
business plan
business challenge
business strategy
business goals
Which of the following is NOT a strategy to build a competitive advantage?
Decreasing sales
Increasing customer loyalty
Developing new product or services
Entering new markets
Coca-cola decided to sell their brand of mineral water called Dasani in the Malaysian market. This is an example of what type of business strategy?
Developing new product or services
Entering new markets
Attracting new customers
Increasing customer loyalty
A product or service that an organisation's customers place a greater value on than similar offering from a competitor is the definition of:
First mover advantage
competitive strategy
Competitive disadvantage
Competitive advantage
When Apple introduces the new iPhone in 2007, they used this strategy:
cost leadership
differentiation
focus
When competition is fierce in a market, rivalry among existing competitors is high.
True
False
Which of the three is not a strategy to build a competitive advantage?
differentiation
focus
cost leadership
standardization
One type of competitive advantage is a special feature of your product that is not offered by the products of your competitors.
False
True
The specific group of customers at which a company aims its products or services
Focus strategy
Differentiation strategy
Cost leadership strategy
McDonalds and Burger King are direct competitors
True
False
Thomas owns a large IT company. He attempts to gain an upper hand in the market by using very skilled workers and inexpensive raw materials. Overall, he is very focused on controlling the costs in order to maximize the value of his products
He is minimizing the costs of his products
He advertises that his products are very cheap.
He is controlling costs in every segment of production.
All the answers are correct
Your company offers the best cars on the market at relatively affordable prices. You currently have no competitors regarding the features your cars have. Why is this an example of product differentiation?
Because you are advertising the car as relatively affordable
Because the quality of your products is very high.
Because any kind of new product by a company is an example o
Because you are advertising the unique features of the produ
