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Strategic Management An Integrated Approach 10th Edition By Charles - Test Bank

Strategic Management An Integrated Approach 10th Edition By Charles – Test Bank

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Strategic Management An Integrated Approach 10th Edition By Charles – Test Bank

Chapter 5–Building Competitive Advantage Through Business-Level Strategy

Student: ___________________________________________________________________________

1. A firm’s business model should contain three components: what is to be satisfied, who is to be satisfied, and how they will be satisfied.
True    False

2. Both the way a product is differentiated from other products of its type and the price of the product determine which product a customer chooses to satisfy his or her needs.
True    False

3. Companies with a differentiation advantage must charge a lower price for their products.
True    False

4. A company searching for a successful business model has to group customers according to the similarities or differences in their needs to discover what kinds of products to develop that will best meet the needs of different kinds of customers.
True    False

5. Market segmentation addresses the “what” portion of a firm’s business model.
True    False

6. Maximizing the profitability of a company’s business model is about making the right choices with regard to value creation through differentiation, costs, and pricing given both the demand conditions in the company’s market and the competitive conditions in the company’s industry.
True    False

7. Companies that successfully pursue a cost leadership strategy generally have a distinctive competency in research and development.
True    False

8. All focus strategies entail serving a specific market segment using a differentiation approach.
True    False

9. A cost leader must respond to the strategic moves of its differentiated competitors.
True    False

10. Differentiation on the basis of innovation and technological competency depends on the research and development function.
True    False

11. A major problem with a differentiation strategy centers on the long-term ability to maintain a product’s perceived difference or distinctness in customers’ eyes.
True    False

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