Author Question: Would you apply a product uniqueness or low cost approach for competitive advantage? How would you ... (Read 75 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?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

The average older adult in the United States takes five prescription drugs per day. Half of these drugs contain a sedative. Alcohol should therefore be avoided by most senior citizens because of the dangerous interactions between alcohol and sedatives.

For a complete list of videos, visit our video library