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Variable Cost (part of break-even analysis) CORRECT ANSWERS unit price of labor and materials Revenue (part of break-even analysis) CORRECT ANSWERS how much you sell cach unit for Delete this card CORRECT ANSWERS Delete this card Competitive Advantage CORRECT ANSWERS Providing more value than the competition Porter's Five Forces CORRECT ANSWERS Buyer Power, Supplier Power, Threat of Substitutes, Threat of New Entrants, Competitive Rivalry Buyer Power CORRECT ANSWERS (One of Porter's Five Forces) customers have many choices and low switching costs, reduce their power by locking customers into your product or service Supplier Power CORRECT ANSWERS (One of Porter's Five Forces) customers have few choices and high switching costs Threat of Substitutes CORRECT ANSWERS (One of Porter's Five Forces) alternatives to a given product or service Threat of New Entrants CORRECT ANSWERS (One of Porter's Five Forces) how easily someone else can come in and copy what you're doing Competitive Rivalry CORRECT ANSWERS (One of Porter's Five Forces) how hard competitors compete against each other, do they collude on pricing or try to undercut cach other Porter's 3 Strategies CORRECT ANSWERS Focus, Differentiation, Cost Leadership Porter's Focus Strategy CORRECT ANSWERS provide something no one else does, narrow or niche strategy Porter's Differentiation strategy CORRECT ANSWERS offer similar products but a unique experience Porter's Cost Leadership strategy CORRECT ANSWERS offer the same product at a better price I ——