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Strategic MGT

chapters 5,6,8

QuestionAnswer
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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