MGT 487 Exam 2

The primary aim of strategic management at the business level is

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The primary aim of strategic management at the business level is

achieving competitive advantage

Which of the following is NOT one of Porter's generic strategies?

A manufacturing business pursuing cost leadership is likely to

rely on experience effects to raise efficiency

One aspect of using a cost leadership strategy is that experience effects may lead to lower costs. Experience effects are achieved by

repeating a process until a task becomes easier.

A firm can achieve differentiation through all the following means except

offering lower prices to frequent customers.

Which statement regarding competitive strategy is true?

More than one competitor can successfully pursue a differentiation strategy within the same industry.

According to Dr. Mueller, a differentiation strategy can be based on

Actual differences, perceived differences, and quality differences(all of the above)

A firm following a focus strategy must focus on

a market segment or group of segments.

In the ________ stage of the industry life cycle, the emphasis on product design is very high, the intensity of competition is low, and the market growth rate is low.

According to Miles and Snow, a firm that imitates the innovations of the first mover and is the second mover in an industry can be labeled