_______ strategies depend on understanding what customers value and are willing to pay for.
a. differentiation b. cost leadership c. responsiveness
Answer: Responsiveness strategy is based on the customers interest. Companies try to understand the customers, their interest, needs, and wants to cater the products. The customers opinion is given more importance and both price and product quality matches customer requirement.
In cost leadership strategy, companies tries to reduce the product cost while compromising on the quality. In differentiation strategy, companies tries to provide premium product at premium price which customers may not afford.
_______ strategies depend on understanding what customers value and are willing to pay for. a. differentiation...
________ value is the price customers would be willing to pay if they perfectly understood the benefits offered, while ________ value is what determines the price they are willing to pay. Select one: a. Objective; perceived b. Perceived; objective c. Objective; quantitative d. Perceived; real Once a company has invested time and money developing a unique new product, to recoup some of the high R&D costs, they will likely use a ________ pricing strategy. Select one: a. skimming b. penetration...
Prenatal massage business For what value are our customers really willing to pay? For what do they currently pay? How are they currently paying? How would they prefer to pay? How much does each Revenue Stream contribute to overall revenues?
The value of outputs is measured by the prices customers are willing to pay for goods or services. T or F.
Define the following terms: 1) Defensive Strategies Retrenchment Divestiture Liquidation 2) Porter’s 5 Generic Strategies Cost Leadership –Low Cost Mass Cost Leadership – Low Cost Focused Differentiation – Mass Differentiation – Focused Cost Leadership – Best Value Differentiation - Best Value
Assignment 4: generic strategies The four strategies to choose from are: 1)Cost Leadership 2)Differentiation 3)Cost Focus 4)Differentiation Focus pick an industry: computers firms: Apple,windows,gaming computer, chromebooks For each firm, explain why the target market is broad/narrow and explain the source of competitive advantage as low-cost or differentiation. Also identify best cost providers (if any with exmaple and explanation).
Which of the following identifies an estimated price customers are willing to pay and then computes the cost to be achieved to earn the desired profit. A) Cost-plus pricing B) Target costing C) Kaizen costing D) Peak-load costing
1) Cost leadership strategy, 2) Product differentiation strategy. Are these two strategies mutually exclusive ? Or can they be combined in an efficient way ?
Research Amazon. How has this firm been able to combine overall cost leadership and differentiation strategies? Think of a firm that has attained a differentiation focus or cost focus strategy. Are its advantages sustainable? Why? Why not? (Hint: Consider its position vis-à-vis Porter’s five forces.) Think of a firm that successfully achieved a combination overall cost leadership and differentiation strategy. What can be learned from this example? Are the advantages sustainable? Why? Why not? (Hint: Consider its competitive position vis-à-vis...
If 50 customers are all willing to pay $30 for an album that sells for $25, how much total value is created for the customers?
Porter proposes three generic competitive strategies: Cost Leadership Differentiation Focus Comment on which of the three strategies Uber might pursue given its’s current market position, competitive scope, and concerns of growth and sustainability.