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By definition, to be engaged in multimarket competitions, two or more firms must compete against each other in more than one product area and in multiple geographic markets

The typical risks of a cost leadership strategy include:

Exporting and licensing are the most appropriate ways for smaller firms to first enter international markets

Blind taste-tests have shown that the taste of premium-priced vodkas and inexpensive vodkas are indistinguishable even to regular drinkers of vodka. But the sales of premium vodkas are thriving. This is an example of the:

Human resources and other support functions are not value-creating activities in the value chain; only value-chain activities create value

A tactical competitive action involves a significant commitment of specific and distinctive organizational resources

Wilberforce Press is a small book publishing firm in Iowa that has been owned by the same family since 1895. It is being purchased by Ozarka Publishing, another family-run business in Nebraska, which has been a specialty publisher for 77 years. Each company is known for its unique culture passed down from its founders. Executives and employees in both firms have “grown up” with their companies. Because both of these companies have a long, stable history in highly related industries, this acquisition has a high probability of success

In a slow-cycle market, such as that experienced in the pharmaceutical industry, a firm is most vulnerable to a counterattack when a drug’s patent expires

A major advantage of multidomestic strategies is the ability to customize products and services for the specific market, although this sacrifices economies of scale

Ties among a firm’s businesses create links between outcomes. This is a: