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
Answers
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Instructions
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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