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Competitive advantage

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  • One type of competitive advantage is a special feature of your product that is not offered by the products of your competitors.
    True
    False
  • The specific group of customers at which a company aims its products or services
    Cost leadership strategy
    Focus strategy
    Differentiation strategy
  • A product or service that an organisation's customers place a greater value on than similar offering from a competitor is the definition of:
    competitive strategy
    First mover advantage
    Competitive disadvantage
    Competitive advantage
  • Which of the following is NOT a strategy to build a competitive advantage?
    Decreasing sales
    Increasing customer loyalty
    Entering new markets
    Developing new product or services
  • 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
    Increasing customer loyalty
    Attracting new customers
  • Competitive advantage
    business plan
    business goals
    business strategy
    business challenge
  • When Apple introduces the new iPhone in 2007, they used this strategy:
    focus
    differentiation
    cost leadership
  • McDonalds and Burger King are direct competitors
    False
    True
  • 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 any kind of new product by a company is an example o
    Because the quality of your products is very high.
    Because you are advertising the unique features of the produ
  • When competition is fierce in a market, rivalry among existing competitors is high.
    False
    True
  • Which of the three is not a strategy to build a competitive advantage?
    cost leadership
    standardization
    differentiation
    focus
  • 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 advertises that his products are very cheap.
    All the answers are correct
    He is minimizing the costs of his products
    He is controlling costs in every segment of production.
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