Which one of the five generic competitive strategies can be utilized to compete successfully in the business simulation?
a. A best-cost strategy is almost always the best in offering quality and a comparable price.
b. A company can employ any of the five generic strategies as long as the product or service is perceived to have superior value compared to the product/service of rivals.
c. The best generic strategy to employ is that of low-cost which contributes to superior profitability.
d. A generic strategy is not necessary as long as the customer perceives value in the product or service.
Answer: b. A company can employ any of the five generic strategies as long as the product or service is perceived to have superior value compared to the product/service of rivals.
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If a company receives cash from a customer before performing services for the customer, then
A. assets increase and liabilities decrease. B. assets increase and stockholders' equity increases. C. assets decrease and liabilities increase. D. assets increase and liabilities increase.
Which of the following is used to generate business leads, stimulate purchases, reward customers, and motivate salespeople?
A) business plan B) SWOT analysis C) POP promotion D) benchmarking E) business promotion