test 1
Airline 2 offers low prices on long-distance flights and has long service times for its planes between flights
Which of the following airlines does NOT employ a low-cost provider strategy
A need to promote stability and retain the status quo
Which of the following does NOT account for WHY a companys strategy evolves from one version to another?
a popular downtown theatre that has been staging plays decides to begin booking rock and roll acts
Which of the following firms uses a deliberate strategy
striving to be the companys high price provider
Which of the following is NOT a frequently used strategic approach to set a company apart from rivals and achieve sustainable competitive advantage?
How can a company modify its entire product line to emphasize its internal service attributes?
Which of the following is NOT one of the managerial considerations in determining how to compete succesfully?
The need to respond to short-term swings in the stock market
Which of the following is NOT typically a trigger to an evolving strategy?
It zeroes in on the customer value proposition and its related profit formula
Which of the following is true of a company's business model?
provides buyers with superior value compared to rival sellers or offers the same value at a lower cost
A company achieves a competitive advantage when it
is managements blueprint for how it will generate revenues sufficient to over costs and yield an attractive profit
A companys business model:
the proactive efforts of company managers to improve the current strategy, a need to respond to changing customer requirements and expectations and a need to react to fresh strategic maneuvers on the part of rival firms
A companys realized strategy evolves from one version to the next due to
Stake out a unique market position and acheive superior profitability
A companys strategy consists of the action plan management is taking to:
realized
A companys strategy in toto that tends to be a combination of proactive and reactive elements is known as its:
stake out the same market position as succesful rival companies
A companys strategy is NOT concerned with managements choices about how to:
the ongoing need of company managers to react and respond to changing market and competitive conditions
A companys strategy is a "work in progress" and evolves over time because of
it is predicted on competitive moves aimed at appealing to buyers in ways that set the company apart from rivals
A companys strategy stands a better chance of competing when:
Cancelling the job cuts till the market situation and entry operations stabilize
A computer chip manufacturing giant decides to outsource its operations to a new geographical location with cheaper labor amidst ongoing labor strikes in a few existing locations (due to proposed job cuts). This draws criticism in its new market and affects its current market position and productivity. Which of the following would be an appropriate reactive (emergent) strategy while moving forward?
Creating a sub-brand that offered exclusive bath products for woman was an emergent strategy
A luxury bathtub manufacturer offered scented bubble bath foams and massage coupons as gimmicks when their bathtubs did not sell. Their bubble foam became famous among some women and led to a line of exclusive bath products for women. They established shops in various regional locations and roped in celebrities to market their products to enhance sales. Now its products are sold through retail outlets and online sites throughout the world. Which of the following is accurate?
A company that provides same quality of products at a much lower price than rivals, but leaves the final assembly of product pieces to customers with an easy assembly guide
A middle-class customer (target) base in a region is most concerned with quality and price of products. Which of the following would be considered a best value proposition for the customers?
Modifying marketing communication to increase brand familiarity within key physician segments
A pharmaceutical company functioning in France for the last 10 years has moderate sales in a crowded market with competitors offering drugs with similar efficacy and safety precautions, but with better sales. The greatest challenge is to increase the prescription of their drugs. What would be the MOST effective strategy to improve sales performance in the existing market?
it is winning
A pharmaceutical giant acquires a manufacturer of rare specialty drugs to improve its failing share prices and invests all its wealth into the deal. Due to a deficit, it agrees to do a joint venture for the acquisition and involves a generate good profits. Which of the following regarding the company's strategy is true?
Allowing users to view ads on previously made related searches
A search engine giant specializes in all types of search items; provides free translation feature for 80 different languages, allows users to view ads on previously made related searches; provides suggestive search items to assist the user; allows users to view a collation of relate web pages users might want to visit; and provides a faster load time and more accurate hits than its rivals. Which of the following is a profit formula used by the company?
fits the companys internal and external situation, build sustainable competitive advantage, and improves company performance
A winning strategy is one that:
The Fit test, the Competitive advantage test, and the performance test
A winning strategy must pass which three tests?
A mobile company, established in a saturated market, that aims at quarterly release of new products
To which of the following is the term "repeatedly evolving strategy" MOST applicable?
establishing a comparison feature tab that allows customers to compare offerings from other online retailers
Troopline Inc, an online laptop retailer, sells laptops of similar range and features as other online laptop retailers. Which of the value propositions would Not benefit the company?
Focused differentiation strategy
BloomsJay Resorts Inc has multiple tropical resorts in various locations. In a crowded market that caters to all kinds of consumers, this resort caters mainly to gays with guaranteed hassle-free holiday experience at a premium price. What strategy is BloomsJay using to gain competitive advantage
Focused differentation
Telsteer Mobil, a smartphone manufacturer, is working on developing its next generation products. It has decided on a strategy of focusing on a narrow buyer segment and outcompeting rivals by offering buyers customized product features for specialized needs and tastes. What basic strategic approach has Telsteer decided upon?
It is management's prescription for doing business, its roadmap to competitive advantage, a game plan for pleasing customers, and its formula for improving company performance
Crafting and executing a strategy is a top-priority managerial task because:
satisfying customer wants and needs at a price customers will consider a good value
The customer value proposition lays out the company's approach to:
strategy relates broadly to a companys competitive moves and business approaches while its business model relates to whether the revenues flowing from the strategy are sufficient to cover costs and realize a profit
The difference between a company's strategy and a company's business model is that:
good strategy-making combined with good strategy execution
The most significant signs of a well managed company are
develop lasting success that can support growth and secure the company's future over the long term
The objectives of a well-crafted strategy require management to strive to:
A baby products retailer sells unassembled baby furniture produced in china
Different companies across different industries adopt any one of the five generic strategies to gain competitive advantage. Which of the following is most likely to use a low-cost provider strategy?
A focused low cost strategy
Easy DriveIn, a fast food facility, offers products at lower prices than its competitors in the market and has a drive-through-only operation with no indoor seating. What strategy is Easy DriveIn using to gain competitive advantage
A distinctive element that attracts customers and produces a competitive egde
Every strategy needs
the best test of a managerial excellence and the best recipe for making a company a standout performer
Excellent execution of an excellent strategy is:
Developing radio tags that could be attached to packages to allow for real-time tracking by customers PCs and mobile phones
FaberRoad, a respected courtier brand, is fast losing its market share to competitors who do over night deliveries of packages or offer lower prices. The companys research department has found that many customers care more about knowing exactly when a package will arrive than getting it the next day. Which strategy would best address the current state of FaberRoad and help it regain its market?
best cost provider strategy
Giving customers more value for the money by satisfying their expectations on key quality features performance, and/or service attributes while beating their price expectation is a:
is the clearest indicator of good management
Good strategy combined with good strategy execution:
Sharing the strategy with the public to gain additional customer and shareholder support
In the course of crafting a strategy, which of the following is NOT a common management function?
a blend of proactive actions to improve the companys competitiveness and financial performance, and adaptive reactions to unanticipated developments and fresh market conditions
It is normal for a companys strategy to end up being:
Best describes what is meant by a companys business model
Managers blueprint for how and why the company's business approaches will generate revenues sufficient to cover costs and produce attractive profits and returns on investment
public pronouncements from rivals about monthly profit margins
Managers must be prepared to modify their strategy in response to all of the following except:
The sources of sustained advantages and superior profitability
Strategy is about competing differently than rivals, thus strategy success is about
Firm B. "get fresh, hot pizza, delivered under 20 minutes or its free
Which of the following pizza firms competing in a crowded market likely offers the best value proposition to its customers, based on the following sales pitches?
How well does the strategy fit the companys situation?
Which of the following questions can be used to distinguish a winning strategy from a mediocre or losing strategy?
Is the strategy helping the company achieve a sustainable competitive advantage and is it resulting in better company performance?
Which of the following questions tests the merits of the firms strategy and distinguishes it as a winning strategy?
Because it sets forth the key components of the enterprises business approach, indicates how revenues will be generated and makes a case for why the strategy can deliver value to customers in a profitable manner
Why is it important to craft a business model
crafting a strategy that yields a competitive advantage over rivals is a companys most reliable means of achieving above-average profitability and financial performance
a company's strategy and its quest for competitive advantage are tightly connected because
is A companys most reliable ticket to above average profitability
a creative and distinctive strategy that sets a company apart from rivals and that gives it a sustainable competitive advantage
Creating a sales plan that aims to enhance initial sales and market share with low prices based on high operational costs
a multinational company enters a new geographical location, considered an emerging market, with its established product line: laptops and tablets. Which of the following would NOT serve as a good strategic move to enhance profits?
High value
a regional electric scooter manufacturer sells its scooter at a lower price than other two-wheeler manufacturers. What will make the product most attractive for customers?
an emergent strategy
adapting to new conditions like new innovations by competitors, fast changing technological developments, and constantly evaluating what is working result in:
account for why a Companys strategy evolves over time
changing circumstances and ongoing managerial efforts to improve the strategy:
All three companies employ deliberate strategies
consider the following three companies and their strategies: - Company A is an establish database management company that acquires a well-reputed but small publishing house to enter the booming publishing industry -Company B, a sports management house, declared bankruptcy during a recent recession but now has created a television network that airs regional sports events -Company C, a package delivery business, is a startup based on delivery efficiency models created by a few students, and delivers almost all kinds of packages Which of the following describes the use of strategies by these companies accurately?
consist of a blend of proactive new planned initiatives plus ongoing strategy elements continued from prior periods
crafting a deliberate strategy involves developing strategy elements that:
need to come up with a sustainable competitive advantage that draws in customers and produces a competitive edge over rivals
in crafting a companys strategy, managers:
strategy
the competitve moves and business approaches a company's management is using to grow the business, stake out market position, attract and please customers, compete successfully, conduct operations, and achieve organizational objectives is referred to as its:
come up with moves and actions that produce a durable competitive edge
the hear and soul of a companys strategy-making effort is determining how to
gain sales and market share with lower prices despite increased costs
the pattern of actions and business approaches that would NOT define a companys strategy include actions to:
confining operations to local or regional markets or developing product superiority or concentrating on a narrow product lineup
to improve performance, there are many different avenues for outcompeting rivals such as
What must managers do, and do well, to make a company a winner in the marketplace?
what is the foremost question in running a business enterprise?
managements ability to forge a series of actions, both in the marketplace and internally, that sets the company apart from rivals, and produces sustainable competitive advantage
what seperates a powerful strategy from a run of the mill or ineffective one is:
A company that offers high-cost specialized products that could be used only by customers of a certain age group
which of the following companys would have the least bargaining power with its suppliers?
Focusing on a broad buyer segment and offering buyers a very low cost and highly customized attributes that meet their specialized needs better than rivals products
which of the following is NOT a frequently used strategic approach to set a company apart from rivals and achieve sustainable competitive advantage?
a companys strategy is typically a blend of proactive and reactive strategy elements
which of the following statements about a companys strategy is true
Because a good strategy coupled with a good strategy execution are the most telling signs of good management and allow a company to be a standout performer in the marketplace
why are crafting and executing business strategies the foremost tasks of any organization?
Building products and distributing them at low prices to a broad customer base irrespective of manufacturing cost
winning a sustainable competitive edge over competitors does NOT hinge on which of the following?