BUSI 400 Learnsmart Chapter 5 Liberty University Complete Answers

BUSI 400 Learnsmart Chapter 5 Liberty University Complete Answers

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is when firms are in a turnaround situation and aggressively cut administrative expenses and inventories and speed up receivable collections. 

Which of the following are two requirements for successfully introducing a new product? 

is a firm's achievement of similarity, or being "on par," with competitors with respect to low cost, differentiation, or other strategic product characteristic. 

__________ is when firms in a turnaround situation seek to eliminate costs and improve productivity through small gains that accumulate over a period of time. 

One reason a company would use a maintaining strategy for a declining stage product would be . 

An overall cost leadership strategy helps companies erect substantial industry entry barriers through . 

Which of the following are potential pitfalls of using a differentiation strategy? 

involves obtaining as much profit as possible and requires that costs be reduced quickly. 

A differentiation strategy can improve a company's position vis-a-vis Porter's forces due to which of the following? 

is when firms in a turnaround situation discontinue product lines that are either only marginally profitable or are losing money and focus on a few core profitable areas. 

Which of the following are two challenges of the introduction stage of the industry life cycle? 

is the decline in unit costs of production as cumulative output increases. 

Firms that sell products in a declining industry are often affected by which of the following competitor actions? 

A common pitfall of using a cost-leadership strategy is that . 

Companies that are not able to create a competitive advantage through both cost leadership and differentiation strategies ___. 

Which of the following are benefits when companies successfully integrate cost and differentiation advantages create an enviable position? 

The ability of some firms to manufacture unique products in relatively small quantities at lower costs is due to advances in technologies. 

Companies that use a consolidation strategy in a declining industry . 

Which of the following are pitfalls of using a focus strategy? 

is to offer a product in a different category to create the perception that the product is altogether different. 

Which of the following are ways that companies can combine overall cost leadership and differentiation? 

Which of the following are Michael Porter's three generic strategies? 

involves dropping the product from a firm's portfolio. 

Over the past twenty years, the duration of competitive advantage has . 

A successful overall cost leadership strategy requires a tight set of interrelated tactics that include which of the following? 

The stage is the third stage of the product life cycle. 

Maintaining, harvesting, consolidating, and exiting are the four basic strategies available in the __ phase. 

Companies that use differentiation strategies may use which of the following to differentiate their products or services? 

Which of the following statements regarding combination strategies are correct? 

A __ strategy is a firm's generic strategy based on appeal to a narrow market segment with an industry. 

The cycle refers to the stages that typically occur over the life of an industry.