Mission & Vision
Case Library & Resources
Welcome to your Consulting Quiz 9
Which of the following is a benefit of price skimming ?
Gains market share
Allows firm to make largest possible profit
Which one is a risk involved with cost leadership ?
Ability to withstand increases in suppliers' cost.
Cost differences increase with market maturity.
Loss of quality and features aspired.
The limitation of resources within a firm makes which of the following very important?
Which statement associated with competitive advantages is true?
If many competitive firms take up similar differentiation methods , they may be perceived as equals by the consumer.
With a cost leadership strategy, firms should not be concerned with differentiation.
Acquiring multiple types of competitive advantage can lead to downfall.
In the long run, businesses with competitive advantages will only earn normal profits.
A disadvantage of international operations is
Competitors in foreign markets might not exist.
Foreign operations can allow firms to establish low-cost manufacturing
Economies of scale can be obtained from global operations and not solely domestic markets.
After the pricing objectives have been determined, a firm should
Decide final price
Calculate cost of production
Select pricing method
Determine demand for product
Time is Up!