Competitive Strategy
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| What is your strategy for beating the competition called? | Competitive Advantage
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| To have a competitive advantages means what? | It means you can do better, cheaper, or faster than your competitors that will attract customers, satisfy them, and keep them coming back.
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| Competitive strategy is made up of two things? | The business definition and the competitive advantage.
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| The essence of your business strategy should be communicated in what type of statement? | Mission statement
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| A business definition has what three elements? | The offer, target market, and production and delivery capabilities.
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| What is a USP in regards to competitive advantage? | unique selling proposition
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| What are the six sources of competitive advantage? | quality, price, location, selection, service, and speed/turnaround
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| This statement will briefly but effectively describe what your business is about? | Mission statement
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| What are the four tactical issues to address with regard to the implementation of your business strategy? | Sales plan, market communications , operating plan, budget
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| Mission statements should communicate a strategy that exists of what? | briefly and concisely, to both staff and customers, guides every business decision made, with passionate commitment to serving customers.
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| What are some competitive strategies to consider? | Is it a large and growing market? Or, room for more competition in the market?
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Created by:
eva_rutiri
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