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Bowman's Strategy Clock Flashcards | StudBud

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Bowman's Strategy Clock

10 terms·StudBud Administration·53 plays

#Business

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Questions 10

Answers

1
Which positions are uncompetitive in showing price is greater than perceived value?
Position 1, 7 & 8
Position 6, 7 & 8
Position 4, 5 & 6
Position 1, 2 & 3
2
How many positions are there on the clock?
7
8
6
9
3
The aim of a differentiation strategy is to:
Offer lowest prices in a market
Achieve significant price premium compared to competitiors
Differentiate a service from its competitors
Offer highest perceived added value
4
What does Bowman's model measure?
price and quality
product and value
quality and product
price and value
5
Why is positioning a product at Position 6 unlikely to be successful in the long-term?
Competitors can offer high perceived value for a high price
Competitors can offer high perceived value for a low price
Competitors can offer low perceived value for a low price
Competitors can offer low perceived value for a high price
6
What strategy is appropriate for businesses to be successful in being low-cost leaders?
Cost minimisation
Profit maximisation
Economies of scale
Focused differentiation
7
Which position is used by most luxury brands?
Hybrid (Position 3)
Differentiation (Position 1)
Focused Differentiation (Position 5)
Monopoly Pricing (Position 2)
8
What strategy is needed for a business to be successful in being low-cost leaders in a market?
Economies of scale
Profit maximisation
Cost minimisation
Focused differentiation
9
Competitors in a market are involved in price wars. Which position on Bowman's Clock are they?
Low price (position 2)
Hybrid (position 3)
Risky high margins (position 6)
Loss of market share (position 8)
10
Bowman's Strategic Clock explores options a business has for:
Methods of growth
Strategic positioning
Managing risk
Market segmentation