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Practice Quiz
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1
The three generic strategies presented by Michael Porter can be shown on two dimensions: competitive advantage and strategic target.
A)True
B)False
2
Firms that compete on overall cost leadership are vulnerable if there is a decrease in the cost of the inputs on which the advantage is based.
A)True
B)False
3
Too little focus on one or a few value-chain activities can be a pitfall of the overall cost leadership strategy.
A)True
B)False
4
A disadvantage of firms that successfully integrate overall cost leadership and a differentiation strategies is that they are relatively difficult for competitors to imitate.
A)True
B)False
5
Which of the following is not a reason for the possible erosion of company competitive advantage?
A)rapid change in technology
B)globalization
C)actions by rivals from within and outside of the industry
D)length of time a company is in business
6
Which of the following methods of implementing a differentiation strategy has been greatly enhanced because of Internet technologies?
A)celebrity endorsements
B)enabling of mass customization
C)prestige packaging
D)exceptional service
7
An important advantage of first movers in a market is that they cannot establish brand recognition.
A)True
B)False
8
In the __________ stage of the industry life cycle, products are unfamiliar to consumers.
A)growth
B)maturity
C)introduction
D)decline
9
Research shows that which of the following is not a strategy used by firms engaged in successful turnarounds?
A)asset and cost surgery
B)global expansion
C)selective product and market pruning
D)piecemeal productivity improvements
10
Many firms facing a turnaround situation try to increase their costs by insourcing the production of many inputs.
A)True
B)False





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