Term
| What focuses on maximizing profit in a single industry? |
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Definition
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Term
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Definition
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Term
What are the following?:
Cost Leadership and Differentiation |
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Definition
| Profit Maximization Methods |
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Term
| What is the customer's perceived value of a product? |
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Definition
| Customer Willingness To Pay |
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Term
| What is to have the lowest costs in the industry? |
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Definition
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Term
| What is to set yourself apart from other firms in the industry? |
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Definition
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Term
| What is to create enough of a product in order to create more for less cost? |
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Definition
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Term
| What is the process of dividing the market into different groups based on different customer characteristics? |
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Definition
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Term
| What type of Market Segmentation doesn't or minimally recognize differences between customers? |
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Definition
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Term
| What type of Market Segmentation recognizes differences between customers to serve one segment? |
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Definition
| Focused Market Segmentation |
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Term
| What type of Market Segmentation recognizes differences between customers and makes a product for each segment? |
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Definition
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Term
What are the following?:
Reduce Rivalry
Reduce Substitutes
Increase Barriers To Entry
Reduce Supplier Power |
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Definition
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Term
| Why Do Suppliers Have Low Power Against Cost Leaders? |
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Definition
| Suppliers Need Cost Leaders |
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Term
What are the following?:
Innovation (new technologies and processes)
Lower Labor Costs (International Competition)
Imitation
Risk |
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Definition
| Cost Leadership Disadvantages |
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Term
What are the following?:
Reduce Rivalry
Reduce Buyer Power
Reduce Supplier Power
Reduce Barriers To Entry |
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Definition
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Term
What is the following?:
Imitation |
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Definition
| Differentiation Disadvantages |
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Term
What are the following?:
Lower Threat of Entry and Rivalry
Lower Buyer Power |
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Definition
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Term
What are the following?:
High Supplier Power and dependence on a particular market segment. |
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Definition
| Focus Strategy Disadvantage |
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Term
| What happens when a company tries to pursue product differentiation and cost leadership? |
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Definition
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