Author Question: Would you apply a product uniqueness or low cost approach for competitive advantage? How would you ... (Read 73 times)

imanialler

  • Hero Member
  • *****
  • Posts: 539
Would you apply a product uniqueness or low cost approach for competitive advantage? How would you apply the approach?
 
  What will be an ideal response?

Question 2

According to Guerilla Marketing Attack by Jay Levinson, when consumers in the furniture industry rated factors affecting their purchase decision, ________.
 
  A) Price was by far the most important variable
  B) Price was the ninth most important variable
  C) Price was not deemed to be a critical or relevant variable in the purchase decision
  D) Price was the 25th most important variable


duke02

  • Sr. Member
  • ****
  • Posts: 312
Answer to Question 1

Either approach would work depending on the context. A firm using a product uniqueness strategy bases its competitive advantage on its ability to differentiate the firm's products and/or services from others in the competitive marketspace. Cost leadership (or low cost) means that the firm finds ways to reduce the costs of operations and management sufficiently to be able to undercut the pricing of their competition and to sustain that pricing advantage.

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

For a complete list of videos, visit our video library