5. A radio station has a distinctive competency in developing new products (show

Question

5. A radio station has a distinctive competency in developing new products (shows) and wants to serve the upscale market. Which of the following is the most appropriate generic strategy for this company? A) Cost leadership B) Differentiation C) Both cost leadership and differentiation D) Focused low-cost approach E) Focused differentiation approach Which of the following is not a determinant of the extent of rivalry among established companies? A) The number and size distribution of companies in the industry B) Demand conditions C) The cost structure of firms in an industry D) Exit barriers E) The power of buyers 6. Strategic leadership is about A) strategy formulation. B) strategy implementation C) how to effectively manage a company's strategy and create competitive advantage D) establishing effective controlling processes. E) reducing a company's operating costs. 7. The four basic building blocks of competitive advantage are A) low cost, quality, efficiency, and customer responsiveness. B) differentiation, quality, innovation, and customer responsiveness. C) quality, efficiency, differentiation, and customer responsiveness. 8. D) customer responsiveness, quality, efficiency, and human resources. E) quality, customer responsiveness, innovation, and efficiency

Explanation / Answer

Answer 5: Option E: Focused differentiation approach

A radio station has a distinctive competency in developing new products (shows) and wants to serve the upscale market by using Focused differentiation approach

Answer 6: Option E: The power of buyer

Answer 7: Option C: how to effectively manage a company’s strategy and create competitive advantage.

Answer 8: Option E: quality, customer responsiveness, innovation and efficiency.

The four building blocks of competitive advantage are superior efficiency, quality, innovation, and customer responsiveness. These building blocks allow a company to differentiate its product offering to provide more utility to customers and/or lower its cost structure

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