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

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

Which of the following business strategies involves providing products or services that meet customer value in some unique way?Group of answer choicesIncentive marketing strategyPrice focus strategyDifferentiation strategyReflective marketing strategy PreviousNext

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

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

Michael Porter suggests that when managers choose a business-level strategy, their organization should _____ in a particular market.Multiple choice question.reduce prices of their productsgain a competitive advantagerethink their product strategyplan to reorganize staff