U4 AOS 1 Bus Man Section 6 Quiz - Porter's Generic Stratgies

Which of the following best describes a strategy of differentiation, according to Porter's generic strategies model?

• When an organisation has a widely recognised brand name

• When an organisation has a competency that distinguishes it from other organisation in its industry

• hen an organisation's products or services offer features that are not offered by competitors' offerings

• When the products are perceived to offer greater satisfaction and for which customers are, consequently, prepared to pay premium price

.......strategy focuses on providing high-quality goods and services at the lowest prices.

• Cost leadership

• Differentiation

• Focus

• Transition

The Generic Strategies were developed by _____

• Henry Cotter

• Michael Porter

• Nick Sorter

• Harry Potter

According to the Generic Startegies, businesses seek future growth by pursuing _________ .

• competitive advantage

• high profits

• effective change

• differentiation

Two advantages that a business may develop to gain market share.

• cost leadership and cost focus

• cost advantage and differentiation advantage

• differentiation advantage and cost focus advantage

• differentiation focus advantage and cost focus advantage

The range over which the business intends to compete is known as competitive (a)   .

The range over which a business intends to compete may be either (a)   or narrow.

How many generic strategies are there, according to the book Competitive Advantage?

• one

• two

• three

• four

How many of the generic strategies are in the VCE Bus Man Study Design (SAC and exam)?

• one - cost leadership

• two- lower cost and differentiation

• three- cost leadership, differentiation, and focus

• four- cost leadership, differentiation, cost focus, and differentiation focus

A product which is an above-averge performer in its industry with an industry averge price is known as a ______ .

• cost loser

• cost leader

• cost winner

• differentiated cost winner