Business-Level Strategies
Attempts to provide the lowest cost to a niche target market.
What is focused cost leadership?
When the unit COGS and service decreases as a firm can produce and sell more items.
What are economies of scale?
The point font size Steve Jobs usually presented with.
What is 150-point font?
Another strategy (aside from real option strategy) characterized by commitment, irreversibility, and long-term bets.
What is traditional strategy?
Offers something unique for all that differentiates their product or service from others.
What is broad differentiation?
Who is Michael Porter?
Known as the “right analogy for pitching,” this durable aircraft is designed to do one thing extremely well: deliver results.
By building portfolios of options, firms can do this in uncertain environments.
What is thrive under uncertainty?
Offers the lowest price in the market for a particular product or service.
What is broad cost leadership?
A video rental store that filed for bankruptcy due to the rise of streaming services such as Netflix.
What is Blockbuster?
This imaginary person sits on your shoulder and forces you to anticipate objections.
Who is the Little Man?
This perspective treats investments not as final commitments but as small scale experiment.
What is the real options approach?
Provides unique or differentiated products or services to a niche target market.
What is focused differentiation?
The concept where individuals enjoy seeing and being seen with a designer logo on the products they buy.
What is buyer loyalty?
The most important rule of pitching.
What is the 10/20/30 rule?
A phrase that is frequently mentioned in the text? Important in implementing option strategy.
Keep options open
A hybrid solution of lower cost and differentiated products or services.
What is the best cost strategy?
Their well-known name allows high end brands to charge a premium for their products, resulting in this.
What are strong margins?
U.S. military Jeeps sold to people in the Philippines that represent a clean slate, much like a rewritten pitch.
What is a Jeepney?
An example regarding options strategy (hint: option lens).
What is Ray Band Meta Glasses?