Question

Question 35 2 pts The VRIN tests for sustainable competitive advantage ask if a resource is Valuable, Rare, Imitable, and Non-substitutable. True False Question 36 2 pts Studying competitors' past behavior and preferences provide a valuable assist in anticipating what moves rivals are likely to make next and outmaneuvering them in the marketplace. True False o tem ?

Answer 1

Question 35.

Answer: False

The VRIN tests for sustainable competitive advantage ask if a resource is valuable, rare, inimitable & non substituable. It does not ask if a resource is 'imitable'.

Question 36.

Answer: True

Studying competitors' past behavior & preferences provide a valuable assist in getting a valuable assist in the anticipation of the next move of the rival. The rivals and different other companies in the same market always try to outmaneuver all the other companies in the same segment to get the competitive advantage over all other companies. By analyzing their past behaviors & assessing the data, it becomes helpful in anticipation of the next move of the rival.

Question 37.

Answer: True

Success in achieving a low cost edge over rivals comes from out-managing rivals. There are two types of strategies that could be used to gain a competitive advantage over their rivals in the market. They are Cost Leadership and Differentiation. In Cost Leadership strategy the company ensures the cost of your products or services to be lesser than the competitors and even lower than the market price. This strategy certainly gains attention of the prices sensitive customers in the market. Also, if the Value chain activitiy by the company is increased & made more accurate then it makes the company earn profit even though their prices are lower in the market.

Question 38.

Answer: True

Strategic Group Mapping is a technique that businesses are using to understand what other competitors are performing in the market. Also, it is very important to understand where the competitors stand in the market to run a successful business. With the help of Strategic Group Map it can be clearly understood about the competitors performance like which ones are doing strong & whichones are doing weak in the market.