1. How can a business-level strategy of (a) low cost and (b) differentiation offer some protection against competitive forces in a company's industry?
2. What is required to transform a business-level strategy from an idea into reality?
3. What do we mean by the term value innovation? Can you identify a company not discussed in the text that has established a strong competitive position through value innovation?
4. How would you describe Lululemon's market segmentation strategy? Who do you think are Lululemon's typical customers?