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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 any kind of new product by a company is an example o
 
Because you are advertising the car as relatively affordable
 
Because you are advertising the unique features of the produ
 
Because the quality of your products is very high.
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 minimizing the costs of his products
 
He is controlling costs in every segment of production.
 
He advertises that his products are very cheap.
McDonalds and Burger King are direct competitors
 
True
 
False
The specific group of customers at which a company aims its products or services
 
Focus strategy
 
Cost leadership strategy
 
Differentiation strategy
One type of competitive advantage is a special feature of your product that is not offered by the products of your competitors.
 
True
 
False
Which of the three is not a strategy to build a competitive advantage?
 
standardization
 
cost leadership
 
differentiation
 
focus
When competition is fierce in a market, rivalry among existing competitors is high.
 
True
 
False
When Apple introduces the new iPhone in 2007, they used this strategy:
 
differentiation
 
cost leadership
 
focus
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
 
competitive strategy
 
First mover advantage
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?
 
Entering new markets
 
Developing new product or services
 
Increasing customer loyalty
 
Attracting new customers
Which of the following is NOT a strategy to build a competitive advantage?
 
Decreasing sales
 
Developing new product or services
 
Entering new markets
 
Increasing customer loyalty
Competitive advantage
 
business plan
 
business strategy
 
business challenge
 
business goals


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