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7 Cards in this Set
- Front
- Back
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business level strategy
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an integrated and coordinated set of commitments and actions the firm uses to gain a competitive advantage by exploiting core competencies in specific product markets
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market segmentation
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a process used to cluster people with similar needs into individual identifiable groups
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cost-leadership strategy
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an integrated set of actions taken to produce goods or services with features that are acceptable to fcustomers at the lowest cost, relative to that of competitors
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differentiation strategy
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an integrated set of actions taken to produce goods or services (at an acceptable cost) that customers perceive as being different in ways that are important to them
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focus strategy
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an integrated set of actions taken to produce goods or services that serve the needs of a particular competitive segment
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integrated cost leadership. differentiation strategy
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involves engaging in primary and support activities that allow a firm to simultaneously pursue low cost and differentiation
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total quality management (TQL)
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a managerial innovation that emphasizes an organization's total commitment to the customer and to continuous improvement of every process through the use of data-driven, problem-solving approaches based on empowerment of employee groups and teams
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