FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 5: Product Differentiation

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 31

True/False

Review LaterAdd Note

Review Later

While firms often alter the objective properties of their products or services in order to implement a product-differentiation strategy, the existence of product differentiation is always a matter of customer perception.

Correct Answer

verified

Show Answer

Question 32

True/False

Review LaterAdd Note

Review Later

Through advertising and other consumer marketing efforts, firms attempt to alter the perceptions of current and potential customers, but only when specific attributes of a firm's products or services are altered.

Correct Answer

verified

Show Answer

Question 33

Multiple Choice

Review LaterAdd Note

Which of the following bases of product differentiation is usually costly to duplicate?

Which of the following bases of product differentiation attempts to create the perception that a firm's products or services are unusually valuable by focusing on links within and between firms?

According to Coach's website, the company has built a distinctive style and prestigious image over the past 40 years to develop a reputation as "America's preeminent designer, producer, and marketer of fine accessories and gifts for women and men including handbags, business cases, luggage and travel accessories, wallets, outerwear, eyewear, gloves, scarves and fine jewelry." Coach employs a multi-channel distribution channel to reach its customers, including company-owned stores and boutiques in the stores of prominent specialty retailers both within the United States and abroad, and the company operates an online store. Consumers who purchase coach products are generally willing to pay the premium price due to the superior quality of Coach's products as well as the perceived prestige of owning a Coach product. Coach stresses these features in its advertising campaigns and regularly allows movies and television shows to favorably feature Coach products in appropriate scenes. Over the last five years. Coach has partnered with automobile manufacturers such as Lexus to produce automobiles with Coach interiors. In an effort to expand its international reach, Coach intends to increase its international distribution and is expanding into Japan through Coach Japan, Inc., a joint venture with a local company that will allow Coach to control international distribution and to maintain a consistent brand strategy domestically and abroad. -The price premium that customers are willing to pay for the superior quality and perceived prestige of Coach's products over the prices of similar products are known as

More recent work contradicts the argument about being "stuck in the middle" and suggests that firms that are successful in both cost leadership and product differentiation often can expect to gain a sustained competitive advantage.

The Lockheed Corporation Skunk Works is an example of a(n)

The ability of companies that produce complex software packages to tailor these packages to the specific needs of their customers is an example of product differentiation through

Identify which bases of product differentiation are likely to be almost always easy to duplicate, which can sometimes be costly to duplicate and which are usually costly to duplicate and discuss under what conditions a base of differentiation is likely to be costly to imitate and can be a source of sustained competitive advantage.

While product features, by themselves, are usually not a source of sustained competitive advantage, they can be a source of a temporary competitive advantage.

Which of the following bases of product differentiation is almost always easy to duplicate?

Linkages between firms that differentiate their products are examples of cooperative strategic alliance strategies.

Recent research shows that firms can simultaneously implement cost-leadership and product-differentiation strategies if they learn how to manage the ________ inherent in these two strategies.

Timing, location, distribution channels, and service and support are all very similar bases of product differentiation and can act as substitutes for each other.

Firms that pursue a product-differentiation strategy can choose whether or not they want to reveal this strategic choice to their competition by adjusting their prices.

When considering the impact of product differentiation on the threat of rivalry, product differentiation

Which of the following bases of product differentiation is by far the most popular way for firms to try to differentiate their products but is identified as almost always being easy to duplicate?

Identify the three broad categories of product differentiation and identify two bases of differentiation under each category.

Once developed, a firm's reputation can last a long time, even if the basis for that reputation no longer exists.

Product differentiation is a business strategy whereby firms attempt to gain a competitive advantage by increasing the perceived value of their products and services relative to the perceived value of other firms' products or services.