Question 1Question Show
________ 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. Answer
Question 2Question By increasing the perceived value of a firm's products or services, a firm will be able to Answer
Question 3Question 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 ________. Answer
Question 4Question 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) Answer
Question 5Question The most obvious way that firms can try to differentiate their products is by Answer
Question 6Question 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? Answer
Question 7Question 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 Answer
Question 8Question 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. Answer
Question 9Question 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? Answer
Question 10Question 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? Answer
Question 11Question ________ is the ability to use organizational structure to facilitate coordination among specific disciplines to conduct research. Answer
Question 12Question 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? Answer
Question 13Question ________ can be can be a source of product differentiation when a single set of customers purchases several of a firm's products. Answer
Question 14Question 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. Answer
Question 15Question In general, firms selling differentiated products face a demand curve that is Answer
Question 16Question According to Chamberlin, firms selling differentiated products and facing a downward sloping demand curve are in an industry described as Answer
Question 17Question Which of the following statements regarding the impact of product differentiation on the threat of new entry is accurate? Answer
Question 18Question When considering the impact of product differentiation on the threat of rivalry, product differentiation Answer
Question 19Question With regard to the threat of suppliers, product differentiation Answer
Question 20Question In emerging industries Answer
Question 21Question In a declining industry Answer
Question 22Question Which of the following bases of product differentiation is almost always easy to duplicate? Answer
Question 23Question Which of the following bases of product differentiation is usually costly to duplicate? Answer
Question 24Question 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? Answer
Question 25Question Product features, by themselves, are Answer
Question 26Question Under which of the following conditions is the product mix advantage as a basis of product differentiation the least difficult to duplicate? Answer
Question 27Question Research on architectural competence in pharmaceutical firms suggests that Answer
Question 28
Question Which of the following bases of product differentiation is generally viewed as the most difficult to duplicate? Answer
Question 29Question The U-form structure used to implement a product-differentiation strategy Answer
Question 30Question A ________ structure exists when individuals in a firm have two or more bosses simultaneously. Answer
Question 31Question The Lockheed Corporation Skunk Works is an example of a(n) Answer
Question 32Question 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. Answer
Question 33Question A ________ exists when firms are committed to engage in several related product-differentiation strategies simultaneously. Answer
Question 34Question In developing a compensation policy used to implement a product-differentiation strategy, firms will Answer
Question 35Question More recent work in the area of strategic management regarding assertions about being stuck in the middle Answer
Question 36Question Firms that are stuck in the middle attempt to sell Answer
Question 37Question While cost leadership requires rewards for cost reduction, product differentiation requires rewards for ________. Answer
Question 38Question Recent research suggests that ________ firms must have competitive levels of cost to survive. Answer
Question 39Question Recent research shows that firms can simultaneously implement cost-leadership and product-differentiation strategies if they learn how to manage the ________ inherent in these two strategies. Answer
Question 40Question Cross-functional product development teams are suitable for a firm pursuing a ________ strategy. Answer
Question 41Question Which generic business level strategy is Coach pursuing? Answer
Question 42Question The price premium that customers are willing to pay for the superior quality and perceived prestige of Coach's products over the prices of similar products are known as Answer
Question 43Question Which of the following bases of product differentiation does Coach appear to be employing? Answer
Question 44Question Which of the following bases of Coach's competitive advantage is likely to be the most difficult to duplicate? Answer
Question 45Question Which of the following bases of Coach's competitive advantage is likely to be the easiest to duplicate? Answer
Question 46Question The business level strategy Coach is pursuing is likely to Answer
Question 47Question Given that the leather handbag market that Coach largely competes in can be considered a mature market, Coach should focus its product-differentiation efforts on Answer
Question 48Question Coach's agreement with Lexus to produce automobiles with Coach leather interior is an example of Answer
Question 49Question If Coach had an organizational structure that used cross-functional teams, the members of which reported not only to their functional boss (i.e. the head of production) but also to the head of the team, Coach could be said to be using which organizational structure? Answer
Question 50Question One feature of Coach's compensation policies is likely to be Answer
Which of the following bases of product differentiation is likely to be most costly to duplicate?The correct answer choice is C: reputation. Reputation is usually costly to duplicate in terms of product differentiation. Because the reputation of a...
What are the 4 characteristics of product differentiation?The elements of differentiation include product design, marketing, packaging, and pricing. A product differentiation strategy should demonstrate that a product has all the features of competing choices but with additional exclusive benefits no one else offers.
What bases of differentiation are most likely to provide a sustained competitive advantage?One of the most sustainable forms of differentiation is providing an exceptional customer experience. Customer loyalty is likely to increase when consumers know they'll have a more positive experience with your business than with your competitors.
What is product differentiation product differentiation ________ quizlet?Product differentiation is a business strategy whereby firms attempt to gain a competitive advantage by increasing the perceived value of their products and services relative to the perceived value of other firms' products or services.
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