Deck 8: Alternative Value Propositions

Question 1

business strategy should be challenged with respect to whether it contains a real and perceived value proposition and whether that value proposition is relevant, ________ and ________.

Answer 1

sustainable, and feasible.

Question 2

six quality dimensions include: performance, conformance to specifications, features, customer support, process quality, and _________.

Answer 2

Aesthetic design.

Question 3

A successful low cost strategy is usually multifaceted and supported by a cost-oriented culture.

Answer 3

True

Question 4

CSR refers to customer social relationship management.

Question 5

Business strategies should offer a clear value proposition to customers and be supported by assets and competencies and functional strategies and programs.

Question 6

Firms that chose customer relationship as a value proposition just need to provide good functional benefits of their product or service.

Question 7

The experience curve is automatic and occurs over time.

Question 8

is believed that corporate social responsibility does not create shareholder value but rather just enhances a brand image.

Question 9

A signal of high quality for clothing is price.

Question 10

Niche specialists are successful because their strategies are based on commitment to a single product line or part of the market.

Question 11

value proposition is often an umbrella concept under which the supporting assets and competences and functional strategies and programs can be grouped.

Question 12

With the experience curve, the total cost of a product will decline at a predictable rate as experience in building the product accumulates.

Question 13

The low-cost strategic option consists of all of the approaches below except:

A) Scale economies
B) No-frills product/service
C) Delivery of superior customer service
D) Production/operations
E) Experience curve

Question 14

An experience curve strategy will usually enhance product innovation.

Question 15

Value should be determined by the firm and not by the customer.

Question 16

Schlitz improved its market position with its aggressive low-cost strategy.

Question 17

To obtain significant operational economies, it is useful to examine the value chain and look for inherently high-cost components that could be eliminated or reduced.

Question 18

Perceived value can be created without compromising the brand.

Question 19

the business-to-business space, more companies are trying to move from being component suppliers to being systems solution players because systems-based organizations will more likely to be more cost effective.

Question 20

order for the quality option to be effective, a firm doesn't need senior management commitment, because the quality department is in charge of the total quality management program.