Question

In Porter's Generic Strategies model, a focus strategy involves:
Select one:
a. Selling simsle products that are cheap to produce
b. Selling a limited range of products
c. Selling to a narrow customer segment
d. Selling to one region only

Answer 1

Answer ⤵️

Instructions

Choose your answers from a-d by clicking the radio button next to each choice and then press 'Submit' to get your score.

Question 1

A 'market driven' firm will typically:

a) Develop new products and then find someone to sell them to

b) Define the target market and produce products that will satisfy those customers' needs

c) Operate in a product-oriented fashion

d) Suffer from market-myopia

Question 2

Segmentation is a way of:

a) Subdividing markets

b) Subdividing industries

c) Differentiating products

d) Subdividing organizations into departments

Question 3

A B2C market is:

a) Business to commercial

b) Business to consumer

c) Business to contract

d) Business to corporate

Question 4

Segmentation is a compromise between two ideals: mass marketing and:

a) Customization

b) Uniformity

c) Innovation

d) Convergence of tastes

Question 5

Porter's generic strategies are:

a) Low price, differentiation, focus

b) Cost leadership, differentiation, cost focus, focus differentiation

c) Price leadership, differentiation, focus

d) Low cost, differentiation, focus differentiation

Question 6

According to Porter, if an organization does not follow either a cost leadership strategy or a differentiation strategy they are:

a) Hybrid

b) Stuck in the middle

c) Typical

d) No frills

Question 7

According to Bowman's generic strategies model a high price, low-perceived value strategy is only feasible in:

a) An oligopoly

b) A monopoly

c) A concentrated industry

d) A fragmented industry

Question 8

Treacy and Wiersema identify 3 ways a firm may get competitive advantage. These are:

a) Low cost, customer intimacy, product leadership

b) Operational excellence, customer intimacy, product leadership

c) Operational excellence, reputation, product leadership

d) Low costs, reputation, product leadership