In a focused cost-leadership strategy, a firm Question 30 options: caters to the segment of the market that is least cost sensitive. provides high-priced products for many different segments of the mass market. delivers low-cost products and services to a specific, narrow part of the market. focuses on reducing the economic value created to drive down costs. Question 31 (6 points) Which of the following is the key value driver for a differentiation strategy? Question 31 options: product features premium prices low-cost input factors economies of scale Question 32 (6 points) In order to achieve a competitive advantage, the Baker's Paradise, a chain of high-end premium cakes and pastries, wants to increase its market share. Which of the following strategies is most likely to do so? Question 32 options: Raise prices without increasing spending on customer service or store features. Lower prices but eliminate several of the features that have come to define Baker's Paradise for consumers, such as complimentary minis, in-store tastings, and classes. Maintain prices but significantly increase spending on customer service and other amenities. Take advantage of economies of scale and scope by opening a chain of lower-priced bakeries that leverage the Baker's Paradise brand image.
