Chapter 2: Identifying Competitive Advantages

A leadership plan that achieves a specific set of goals or objectives is called _____________ _____________.

• Business plan

• Business challenge

• Business strategy

• Business goals

Which of the following is NOT a business strategy?

• Developing new product or services

• Entering new markets

• Increasing customer loyalty

• Decreasing sales

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?

• Developing new product or services

• Entering new markets

• Increasing customer loyalty

• Attracting new customers

• Increasing sales

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 disadvantage

• First mover advantage

• Second mover advantage

• Competitive strategy

• Competitive advantage

When Apple introduces the new iPhone in 2007, they enjoyed this advantage:

• competitive advantage

• first-mover advantage

• customer relationship advantage

• business process advantage

Below is a list of competitive intelligence tools EXCEPT:

• Porter's Five Forces Model

• Porter's Three Generic Strategies

• Porter's Value Chain Analysis

• Porter's Market Analysis

List all 5 Porter's Five Forces Model

Evaluate responses using AI:

OFF

Buyer power means the ability of sellers to affect the buyer's behavior.

• True

• False

___________ costs means manipulating costs to make customers reluctant to switch to another product

• Loyalty

• Buyer

• Seller

• Switching

Rewards customers based on the amount of business they do with a particular organization is called ___________ program.