Info
Warning
Danger
/
/
/
Under Low Cost competitive advantage strategy, how many competitors must

Question : Under Low Cost competitive advantage strategy, how many competitors must

Under Low Cost competitive advantage strategy, how many competitors must you beat on price in order to earn a profit? a. None (all competitors take the same market price) b. At least 1 c. At least 2 d. All except one e. All of them David Ricardo's Rent Theory explains why the price of commodities is determined by _________. a. A central authority b. Supply and demand c. The low cost leader d. The most efficient resources necessary to fill the market demand. e. The least efficient resources necessary to fill the market demand. How does your profit affect the price in Low Cost Advantage? a. The firm's profit does not affect the market price b. The larger the profit, the higher the price to allow that level of profit. c. There are no high profits, at any price, in Low Cost Advantage (high profits are associated with Differentiation Advantage) d. Increases in profit cause increases in price. e. B and D Why is Low Cost leadership the wrong goal? a. Because the correct goal is to maximize the difference between your efficiency and the efficiency of the least efficient producer (regardless of achieving any leadership) This always improves your profitability b. Low cost leadership does not always result in improved performance; cost leadership may be achieved by reducing the magnitude of the difference in efficiency between yourself and the least efficient producer, and in this situation your performance would decline c. Because in a given market multiple producers can be charging a very low price d. A and B e. None of the above (Low Cost Leadership is always the goal) The Product Market Matrix is a strategic planning framework for creating _________. a. Sales growth targets b. Market share growth c. Continuous improvement in quality d. All of the above e. A and B

Solution
5 (1 Ratings )

Solved
Marketing 6 Months Ago 95 Views
This Question has Been Answered!
Expert Answer

Unlimited Access

Explore More than 2 Million+
  • Textbook Solutions
  • Flashcards
  • Homework Answers
  • Documents
Signup for Better Grades!

Ask an Expert

Our Experts can answer your tough homework and study questions
50013 Marketing Questions Answered!
Post a Question