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English 12 Public

Competitive advantage

Study Slideshow

Competitive advantage

business challenge

business strategy

business goals

business plan

15

Which of the following is NOT a strategy to build a competitive advantage?

Developing new product or services

Increasing customer loyalty

Entering new markets

Decreasing sales

15

Coca-cola decided to sell their brand of mineral water called Dasani in the Malaysian market. This is an example of what type of business strategy?

Developing new product or services

Attracting new customers

Entering new markets

Increasing customer loyalty

15

A product or service that an organisation's customers place a greater value on than similar offering from a competitor is the definition of:

Competitive advantage

Competitive disadvantage

First mover advantage

competitive strategy

15

When Apple introduces the new iPhone in 2007, they used this strategy:

differentiation

cost leadership

focus

15

When competition is fierce in a market, rivalry among existing competitors is high.

False

True

15

Which of the three is not a strategy to build a competitive advantage?

standardization

cost leadership

focus

differentiation

15

One type of competitive advantage is a special feature of your product that is not offered by the products of your competitors.

False

True

15

The specific group of customers at which a company aims its products or services

Differentiation strategy

Cost leadership strategy

Focus strategy

15

McDonalds and Burger King are direct competitors

False

True

5

Thomas owns a large IT company. He attempts to gain an upper hand in the market by using very skilled workers and inexpensive raw materials. Overall, he is very focused on controlling the costs in order to maximize the value of his products

All the answers are correct

He is controlling costs in every segment of production.

He is minimizing the costs of his products

He advertises that his products are very cheap.

25

Your company offers the best cars on the market at relatively affordable prices. You currently have no competitors regarding the features your cars have. Why is this an example of product differentiation?

Because you are advertising the unique features of the produ

Because you are advertising the car as relatively affordable

Because the quality of your products is very high.

Because any kind of new product by a company is an example o

25