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Rutiri-Entre Chap17
Competitive Strategy
| Question | Answer |
|---|---|
| What is your strategy for beating the competition called? | Competitive Advantage |
| 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. |
| Competitive strategy is made up of two things? | The business definition and the competitive advantage. |
| The essence of your business strategy should be communicated in what type of statement? | Mission statement |
| A business definition has what three elements? | The offer, target market, and production and delivery capabilities. |
| What is a USP in regards to competitive advantage? | unique selling proposition |
| What are the six sources of competitive advantage? | quality, price, location, selection, service, and speed/turnaround |
| This statement will briefly but effectively describe what your business is about? | Mission statement |
| What are the four tactical issues to address with regard to the implementation of your business strategy? | Sales plan, market communications , operating plan, budget |
| 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. |
| What are some competitive strategies to consider? | Is it a large and growing market? Or, room for more competition in the market? |
Created by:
eva_rutiri
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