The first step to gain and sustain a competitive advantage is toSelect one:A. develop functional and business-level strategies.B. put the guiding policies of a firm into practice.C. understand the strategies of the competitors.D. define a firm's vision, mission, and values. In developed economies, the electric car industry is in the introduction stage, and the industry for MP3 players is in the shakeout phase.What does this imply?Select one:A. The industry for electric cars will primarily pursue an integration strategy, whereas in the MP3 players industry, the focus will be ordifferentiation.B. The electric car industry will move to the growth stage, whereas the industry for MP3 players will enter the growth stage next.C. The mode of competition in the electric car industry will be based on price, whereas in the MP3 player industry, the mode ofcompetition will be non-price based.D. The industry for electric cars will focus more on product innovation, whereas in the MP3 player industry, the focus will be onprocess innovation.

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The first step to gain and sustain a competitive advantage is to Select one: A. develop functional and business-level strategies. B. put the guiding policies of a firm into practice. C. understand the strategies of the competitors. D. define a firm's vision, mission, and values.

The first step to gain and sustain a competitive advantage is to Select one: A. develop functional and business-level strategies. B. put the guiding policies of a firm into practice. C. understand the strategies of the competitors. D. define a firm's vision, mission, and values.

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter9: Perfect Competition

Section: Chapter Questions

Problem 3QP

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Question

The first step to gain and sustain a competitive advantage is to
Select one:
A. develop functional and business-level strategies.
B. put the guiding policies of a firm into practice.
C. understand the strategies of the competitors.
D. define a firm's vision, mission, and values.

In developed economies, the electric car industry is in the introduction stage, and the industry for MP3 players is in the shakeout phase.
What does this imply?
Select one:
A. The industry for electric cars will primarily pursue an integration strategy, whereas in the MP3 players industry, the focus will be or
differentiation.
B. The electric car industry will move to the growth stage, whereas the industry for MP3 players will enter the growth stage next.
C. The mode of competition in the electric car industry will be based on price, whereas in the MP3 player industry, the mode of
competition will be non-price based.
D. The industry for electric cars will focus more on product innovation, whereas in the MP3 player industry, the focus will be on
process innovation.

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