What is the primary purpose of value chain analysis?

To analyze external market factors.

To identify a firm's primary and support activities.

To determine the competitors' strategies.

To calculate the industry average costs.

In value chain analysis, what are primary activities?

Activities that provide support to the organization.

Activities that contribute directly to the production of goods or services.

Activities related to marketing and advertising.

Activities focused on research and development.

Which of the following is an example of a differentiation advantage strategy?

Outsourcing jobs to lower-wage countries.

How can a firm achieve cost advantage in value chain analysis?

By adding more product features.

By outsourcing jobs to higher-wage countries.

By reducing costs in primary activities.

Which stage of the value chain analysis process involves evaluating differentiation strategies?

Stage 1 (Identify the firm's primary and support activities).

Stage 2 (Establish the relative importance of each activity).

Stage 3 (Identify opportunities for reducing costs).

Stage 4 (Identify the best sustainable differentiation).

Which activities are considered primary activities in value chain analysis?

Activities that provide support to the organization.

Activities focused on research and development.

Activities that contribute directly to the production of goods or services.

Activities related to marketing and advertising.

What is the main goal of value chain analysis when a firm competes through differentiation advantage?

To reduce costs in primary activities.

To lower the price of the final product.

To create superior products and customer value.

To outsource jobs to lower-wage countries.

What is the main goal of a firm competing through cost advantage in value chain analysis?

To add unique features to its products.

To reduce costs in primary activities.

What is the primary focus of a firm competing on cost advantage in value chain analysis?

Reducing costs in support activities.

Lowering costs in primary activities.

Contemporary Concepts Free MCQ Practice Test with Solutions

	Cost Management 48 videos\|51 docs\|17 tests

	Cost Management 48 videos\|51 docs\|17 tests

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