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The difference between the cost leadership and differentiation business-level strategies on the one hand, and the focused cost leadership and focused differentiation strategies on the other, are their basis for customer value

If a company focuses on distinctiveness (the basis for customer value) and broad market (target market), such strategy is called “cost leadership.” 

Which statement is TRUE? 

Firms implementing cost leadership strategies often sell no-frills standardized goods or services (but with competitive levels of differentiation) to the industry’s most typical customers

To be a first mover, the firm must have readily available resources to significantly invest in R&D as well as to rapidly and successfully produce and market a stream of innovative products

Which of the following firms would MOST likely be a successful candidate for acquisition and restructuring?

A __________ is a framework for how a firm will create, deliver, and capture value.

In general, firms are more aware of competitors that have similar resources and that:

TQM is most helpful to firms following the __________ business strategy.

Economies of scale are critical to success in what type of market?