Crafting & Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases 23th edition
B) building profits for short-term success.
C) realigning the market to provoke change in rival companies.
D) developing lasting success that can support growth and secure the company's future over the long term.
E) re-creating a business model with regularity.
6) To improve performance, there are many different avenues for outcompeting rivals, such as
A) realizing a higher cost structure and lower operating profit margins than rivals in order to drive sales growth.
B) creating products analogous with competitors so as to be competitive in the same markets.
C) pursuing similar personalized customer service or quality dimensions as rivals.
D) being undecided whether to concentrate operations on local or global markets.
E) strengthening competitiveness by pursuing strategic alliances and collaborative partnerships.
7) Pizza Port, a craft brewing and pizza chain in southern California, manufactures thin-crust pizzas and offers one free pint of beer with the purchase of four large pizzas. What would you advise Pizza Port’s owners not to do to craft a strategy that will enhance its future profits?
A) Establish a distribution plan to set up more rapid pizza and beer delivery than any other rivals in the region,
B) Devise a social media marketing plan that aims at mass customer segments, providing them with updates on new releases of beer, attractive advertisements, and offers on products.
C) Implement a diversification plan that aims at eventually adding regions outside of southern California to its existing line of products.
D) Chart an acquisition plan that aims at rebranding and creating franchises with local smaller-scale pizza restaurants and craft beer taprooms that seek funding and offer attractive locations.
E) Create a sales plan that aims to enhance initial sales and market penetration with low prices based on high operational costs.
8) A cleverly crafted and well-executed strategy
A) precludes the capture of emerging opportunities.
B) produces mediocre financial performance.
C) immunizes a business from changing macro-economic and market conditions.
D) provides direction only in terms of what the company should do.
E) can withstand the competitive challenges from rival firms.
9) A company's strategy is not concerned with management's choices about how to
A) attract and please customers.
B) stake out the same market position as successful rival companies.
C) grow the business.
D) compete successfully.
E) conduct operations and improve the company's financial and market performance.
10) FaberRoad, a respected courier brand, is rapidly losing its market share to competitors who do overnight deliveries of packages or offer lower prices. The company's research department has found that many customers care more about knowing exactly when a package will arrive than getting it the next day. Which strategy would best address the current state of FaberRoad and help it regain its market?