Firms that have a ________ strategy strive to have the lowest costs in the industry, relative to competitors' costs, and typically attract customers on that basis. In contrast, firms using a ________ strategy compete on the basis of providing unique or different products and typically compete on the basis of quality, service, timeliness, or some other important dimension. A. cost emphasis, quality leadership B. differentiation, cost leadership C. cost differentiation, quality plus D. price reduction, quality plus E. cost leadership, differentiation

Managers use a ______ strategy to distinguish their products from those of their competitors by focusing on characteristics such as design, quality, and after-sale service.Multiple choice question.differentiationlow-costfunctional-levelsingle-use

The biggest and most important differences among the competitive strategies of different companies boil down toMultiple Choicewhether a company's market target is broad or narrow and whether the company is pursuing a competitive advantage linked to low cost or differentiation.how they go about building a brand name image that buyers trust and whether they are a risk-taker or risk-avoider.the kinds of actions companies take to improve their competitive assets and reduce their competitive liabilities.the relative emphasis they place on offensive versus defensive strategies.the different ways the companies try to cope with the five competitive forces.

Managers can pursue a low-cost strategy by keeping product prices ____ or pursue a differentiation strategy and add value to a product by finding ways to _____.Multiple choice question.as low as or lower than competitors’ prices; make it superior to products of competitorsat a competitive level; make it superior to products of competitorsas low as or lower than competitors’ prices; offer many different productslow but at times higher than competition if necessary; enter different markets

When firms use a ____________________ it must complete different primary value chain actions and support functions in a competitive but superior way.Select one:a.differentiation strategyb.focused differentiation strategyc.focused cost leadership strategyd.cost leadership strategy

Managers can use two basic business-level strategies to add value to an organization’s products and achieve a competitive advantage. They can pursue a _______ strategy or a _____ strategy.Multiple choice question.differentiation; profitlow-cost; differentiationlow-cost; profitdifferentiation; customer service