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Strategic MGT
chapters 5,6,8
| Question | Answer |
|---|---|
| What is defferentation? | striving to create important differences in the companys own product and those of rivals, then using these differences to build customer loyalty. |
| What is a focus or niche strategy? | Catering to the needs of a narrow segment of the market as opposed to eundoring to be all things to all customers. |
| What is a cost leadership strategy? | A strategy aimed at producing standardized products at low per unit cost for customers who are price sensitive. |
| Option of a cost leadership strategy | use ow cost edge to under price competitors and attract price-sensitive buyers in enough numbers to increase total profit |
| Option of a cost leadership strategy | Maintain present price, be content with present market share. |
| what is low cost leadership? | means low overall assets not just low manufacturing or production costs. |
| An approach to secure cost advantage. | Do a better job than rivals of performing vaue chains activities effeintly and effectivly. |
| An approach to secire cost advantage. | revamp value chain to by pass cost producing activiies that add little value from the buyers. |
| Pitfalls of low cost strategy. | being overly aggressive on cutting price. imitated by rivals, fixated on reducing price, product view, decline buyer sensitive to price, technology breakthroughs open up cost reduction for rivals. |
| What is Differentation? | a strategy aimed at producing products and services considered unique industry wide and directed at consumers who are relatively price-sensitive. |
| A product or service with unique appealing attributes allows a firm to: | command a premium price, increase unit sale, build brand loyalty |
| What is brand competitive advantage? | A product or service with unique appealing attributes allows a firm to: |
| What is the importance of precieved value? | buyers seldom pay for value that is not precieved, price premium of a differentation strategy reflects value actually delivered to the buyer. |
| What is competetive Advantage? | existswhen a firms strategy gives an edge in attracting customers and defending against competitve forces. |
| what is a strategic alliance? | colaborative arangements where two or more companies join forces to achieve mutually beneficial strategic outcomes. |
| what is a Merger (1) | combination and pooling of equals with newly created firm often take on a new name. |
| what is a Merger (2) | occurs when two organizations of about similar size unite to form an enterprise. |
| what id a Merger (3) | transaction involving two cooporations in which stock is eexchanged and from which only cooporation survives. |
| What is an Aquisition? | when a large organization purchases a small organization or vise versa. |
| Reasons for mergers and aquistions? | allows to expand a firms geographic coverage, to extend a firms business into a new product, gain quick access to new technology, gain economy of scale, smooth out seasona trends in sales, reduce tax obligations. |
| what is a vertical integration strategy? | extend a firms competitive scope within the same industry. Backward into sources of supply, Forward toward end-users of final product. |
| What is outsourceing? | involves having out ideas perform certain value chain activities rather than performing them internally. |
Created by:
hou2669
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