Question 1
Which of the following focuses on these five factors: competitors, potential entrants to the market, equivalent products, bargaining power of customers, and bargaining power of suppliers?
◦ balanced scorecard
◦ product differentiation analysis
◦ industry analysis
◦ business process reengineering
Question 2
Which of the following statements best define a product differentiation strategy?
◦ It describes how an organization can increase customer base by differentiating its' product prices from its competitors.
◦ It is an organization's ability to achieve lower costs relative to competitors through productivity and efficiency improvements, elimination of waste, and tight cost control.
◦ It describes how an organization can decrease product prices by differentiating its' raw materials from its competitors.
◦ It is an organization's ability to offer products or services its customers perceive to be superior and unique relative to the products or services of its competitors.
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