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.

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

A marketing strategy:Multiple choice question.is the same thing as competitive advantage.is a step-by-step blueprint for all functions of a firm, identifying specific actions to take.outlines what a firm plans to do to appeal to potential customers, building a sustainable competitive advantage.

A company's competitive strategy shouldMultiple Choicebe supportive with its objective to become at least an average performer within its industry.be well attuned to doing an outstanding job of satisfying the needs and expectations of niche buyers.ensure it is designed to concentrate on a small range of products so it can react quickly to competitive moves.be well matched to its resources and capabilities in order to incorporate standard attributes into its product offering.be well matched to its internal situation and predicated on leveraging its collection of competitively valuable resources and competencies.

A firm’s actions that are taken to influence the beliefs or actions of rivals in its favourable ways areGroup of answer choicespure strategies.mixed strategies.strategic moves.secure strategies.dominant strategies

A company that is at a disadvantage in the marketplace because it lacks competitively valuable resources possessed by rivalsMultiple Choiceshould adopt a new competitive strategy that might better match the circumstances of the marketplace.should abandon strategy elements that have caused its weakness in the marketplace.should undertake efforts to develop a distinctive competence.is virtually blocked from using offensive strategies and must rely on defensive strategies.nearly always is relegated to a trailing position in the industry.