BAD ch. 5

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

________ is the ability to use organizational structure to facilitate coordination among specific disciplines to conduct research.

Architectural competence

Which of the following statements regarding the impact of product differentiation on the threat of new entry is accurate?

Product differentiation helps reduce the threat of new entry by forcing potential new entrants to absorb costs associated with overcoming incumbent firms' product-differentiation advantages.

The most obvious way that firms can try to differentiate their products is by

altering the features of the products they sell

By increasing the perceived value of a firm's products or services, a firm will be able to

charge a higher price than it would otherwise be able to do

Through which bases of competitive advantage do firms attempt to alter the perceptions of current and potential customers, whether or not specific attributes of a firm's products or services are altered?

consumer marketing

While cost leadership requires rewards for cost reduction, product differentiation requires rewards for ________.

creative flair

Product differentiation is ultimately an expression of the ________ of individuals and groups within firms and is limited only by the ________ that exist, or that can be created, in a particular industry.

creativity; opportunities

The Lockheed Corporation Skunk Works is an example of a(n)

cross divisional or cross function team

In general, firms selling differentiated products face a demand curve that is

downward sloping

In emerging industries

firms that are first movers can gain product-differentiation advantages based on perceived technological leadership.

If an individual is considering purchasing a Toyota Camry or a Ferrari and decides that it is worth paying the extra money for the prestige that is associated with the Ferrari, the additional money the customer is willing to pay for the prestige is known as a(n)

hedonic price

In a declining industry

highly differentiated firms may be able to discover a viable market niche that will enable them to survive despite the overall decline in the market

A ________ structure exists when individuals in a firm have two or more bosses simultaneously.

matrix

Firms that are stuck in the middle attempt to sell

medium-priced products and gain medium market share.

Research on architectural competence in pharmaceutical firms suggests that

not only do some firms possess this competence, but also that other firms do not and firms without this competence have, on average, been unable to develop it.

While firms often alter the ________ of their products or services in order to implement a product-differentiation strategy, the existence of product differentiation, in the end, is always a matter of ________.

objective properties; customer perception

The U-form structure used to implement a product-differentiation strategy

often uses temporary cross-divisional and cross-functional teams to manage the development and implementation of new, innovative, and highly differentiated products.

A ________ exists when firms are committed to engage in several related product-differentiation strategies simultaneously

policy of experimentation

Which of the following bases of product differentiation attempts to create the perception that a firm's products or services are unusually valuable by focusing directly on the attributes of the products or services a firm sells?

product complexity

In the bicycle industry, the feel of high-end bicycles when they are ridden is important. As a serious rider becomes accustomed to a particular bicycle, it is very difficult for that rider to switch to an alternative supplier. This is an example of product differentiation through which of the following?

product customization

The ability of companies that produce complex software packages to tailor these packages to the specific needs of their customers is an example of product differentiation through

product customization

Cross-functional product development teams are suitable for a firm pursuing a ________ strategy

product differentiation

Recent research suggests that ________ firms must have competitive levels of cost to survive.

product differentiation

________ is a business strategy whereby firms attempt to gain a competitive advantage by increasing the perceived value of their products or services relative to the perceived value of other firms' products or services.

product differentiation

Which of the following bases of product differentiation is almost always easy to duplicate?

product features

Which of the following bases of product differentiation is by far the most popular way for firms to try to differentiate their products but is identified as almost always being easy to duplicate?

product features

Which of the following bases of product differentiation attempts to create the perception that a firm's products or services are unusually valuable by focusing on links within and between firms?

product mix

________ can be can be a source of product differentiation when a single set of customers purchases several of a firm's products.

product mix

Ultimately the ________ of a product differentiation strategy depends on the ability of individual firms to be creative in finding new ways to differentiate their products.

rarity

When considering the impact of product differentiation on the threat of rivalry, product differentiation

reduces the threat of rivalry because each firm in an industry attempts to carve out its own unique product niche.

With regard to the threat of suppliers, product differentiation

reduces the threat of suppliers because a firm with a highly differentiated product can pass increased costs on to customers.

A firm's ________ is really no more than a socially complex relationship between a firm and its customers and can serve as a basis for product differentiation.

reputation

Which of the following bases of product differentiation is generally viewed as the most difficult to duplicate?

reputation

Which of the following bases of product differentiation is usually costly to duplicate?

reputation

In developing a compensation policy used to implement a product-differentiation strategy, firms will

simultaneously use multiple dimensions to examine employee performance

Product features, by themselves, are

usually not a source of sustained competitive advantage, but they can be a source of a temporary competitive advantage.

Under which of the following conditions is the product mix advantage as a basis of product differentiation the least difficult to duplicate?

when the base of a product mix advantage is a common customer


Kaugnay na mga set ng pag-aaral

🌻🌻 1 st respirtory 🌻🌻

View Set

Section 8, Unit 2: Underwriting Guidelines for FHA Loans

View Set

Pharmacology Clear and Simple: Test One (Ch. 1-10)

View Set

37Qw/exp *LOOK Over* OB: Sexually Transmitted and Other Infections

View Set