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Which of the following is NOT one of the five generic types of competitive strategy? a A market share dominator strategy b low-cost provider, broad differentiation, best-cost provider, focused low-cost and focused differentiation strategies. c meaningfully lower overall costs than rivals on comparable products. d positioned to deliver affordable luxury products at mass market quality.

A market share dominator strategy

A sustainable competitive advantage is gained: A. when a company has durable competitive assets that are central to its strategy and superior to those of rival firms. B. when a company has sufficient resources to expedite its strategy. C. when a company realizes its inherent weaknesses are transformable to advantages. D. when a company can stand out relative to rivals because of resource utilization. E. when a company has resources in well-populated geographical locations

A. when a company has durable competitive assets that are central to its strategy and superior to those of rival firms.

The four tests of a resource's competitive power are often referred to as the: A. SCIR test, which asks if a resource is sustainable, competitive, internalized, and reproducible. B. competitive advantage sustainable method test. C. reliability resources simulation. D. VRIN test, which asks if a resource is valuable, rare, inimitable, and non-substitutable. E. organizational capability metric analysis.

D. VRIN test, which asks if a resource is valuable, rare, inimitable, and non-substitutable.

What does the scope of the firm refer to? a the details of ownership, management control, and the financial arrangements. b expanding a company's geographic coverage or extending its business into new product categories. c The range of activities the firm performs internally and the breadth of its product offerings, the extent of its geographic market, and its mix of businesses

The range of activities the firm performs internally and the breadth of its product offerings, the extent of its geographic market, and its mix of businesses

A factor that has a strong influence on a company's costs is termed: a Liability b a cost driver. c asset d none of the above

a cost driver.

A low-cost leader's basis for competitive advantage is: a positioned to deliver affordable luxury products at mass market quality. b meaningfully lower overall costs than rivals on comparable products. c whether it is easy or inexpensive for rivals to copy the low-cost leader's methods or otherwise match its low costs.

a positioned to deliver affordable luxury products at mass market quality.

There are several basic approaches to competing successfully and gaining a competitive advantage over rivals, such as: a. delivering more value to its customers than rivals or delivering value more efficiently than rivals (or both). b. requires performing value chain activities differently than rivals and building competitively valuable resources and capabilities that rivals cannot readily match or trump. c. whether a company's target market is broad or narrow and whether the company is pursuing a competitive advantage linked to low costs or differentiation.

a. delivering more value to its customers than rivals or delivering value more efficiently than rivals (or both).

An offensive to yield good results can be short if: a Firms with weaknesses in areas where the challenger is strong. b buyers respond immediately (to a dramatic cost-based price cut or imaginative ad campaign). c All of these. d Walmart's logistics and distribution.

buyers respond immediately (to a dramatic cost-based price cut or imaginative ad campaign).

Strategic offensives should, as a general rule, be based on: a initiating a market threat and counterattack simultaneously to effect a distraction. b exploiting a company's strongest competitive assets—its most valuable resources and capabilities. c Being the final competitor to market a next-generation product so as to guarantee the product is operationally sound.

exploiting a company's strongest competitive assets—its most valuable resources and capabilities.

A blue-ocean strategy: a involves abandoning efforts to beat out competitors in existing markets and instead invent a new industry or new market segment that renders existing competitors largely irrelevant and allows a company to create and capture altogether new demand. b Gain product line exclusivity to force competitors to use other distributors. c To dissuade challengers from attacking or diverting them into using less threatening options.

involves abandoning efforts to beat out competitors in existing markets and instead invent a new industry or new market segment that renders existing competitors largely irrelevant and allows a company to create and capture altogether new demand.

The generic types of competitive strategies include: a low-cost provider, broad differentiation, best-cost provider, focused low-cost and focused differentiation strategies. b meaningfully lower overall costs than rivals on comparable products. c positioned to deliver affordable luxury products at mass market quality.

low-cost provider, broad differentiation, best-cost provider, focused low-cost and focused differentiation strategies.

While there are many routes to competitive advantage, the two biggest factors that distinguish one competitive strategy from another involves: a requires performing value chain activities differently than rivals and building competitively valuable resources and capabilities that rivals cannot readily match or trump. b whether a company's target market is broad or narrow and whether the company is pursuing a competitive advantage linked to low costs or differentiation. c whether a company's market target is broad or narrow and whether the company is pursuing a competitive advantage linked to low cost or differentiation. d the specifics of management's game plan for competing successfully—its specific efforts to please customers, strengthen its market position, counter the maneuvers of rivals, respond to shifting market conditions, and achieve a particular kind of competitive advantage.

whether a company's target market is broad or narrow and whether the company is pursuing a competitive advantage linked to low costs or differentiation.