21. Shere Vincente operates a travel service that specializes in arranging trips

Question

21. Shere Vincente operates a travel service that specializes in arranging trips for women, giving special attention to their needs and preferences, from security and comfort to activities and events designed to appeal to her target customers. Vincente is pursuing astrategy A) cost-leadership B) differentiation C) focus D) positioning 22. Small companies must develop strategies that exploit all of the competitive advantages of their size by: A) responding quickly to customers' needs. B) remaining flexible and willing to change. C) constantly innovating. D) All of the above 23. A dramatic, musical, and artistic works. A) trademark B) patent C) copyright D) service mark is an exclusive right that protects the creators of original works such as literary, 24. A strategic plan serves as a blueprint to help a company to: A) match their company's strengths and weaknesses to the environment's opportunities and threats. B) accomplish its mission, goals, and objectives C) identify a company's competitive advantage and set it apart from its competition with a unique position in the market. D) All of the above research involves collecting data firsthand and analyzing it while research involves gathering data that has already been complied and is available. 25. Conducting A) primary: secondary B) secondary; primary C) primary; industry D) product, secondary

Explanation / Answer

21.

Vincente is focused on the niche market by providing special trips specifically to women requiring security and comfort level. Such strategy of focusing on niche target market is known as focus strategy.

ANS: c) Focus

22.

Small company can exploit the competitive advantage by constantly innovating their deliveries to satisfy customers, take advantage of quick processing and lower authority to respond quickly to customer needs, and keep on changing with the customer needs.

ANS: All of above

23.

The copyright law helps the creator of the content to protect original forms of expressions in form of art, music, writing, drawings, and computer programs.

ANS: Copyright

(Patent protect the inventions and trademark protects the image representing the organization)

24.

During strategic planning major activities done are:

ANS: All ofabove

25.

Primary data collection consists of collecting data first time by observing

Secondary data collection consists of collecting the relative data from the source already been complied.

ANS: A) primary; secondary

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