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When a Physical Product Cannot Easily Be Differentiated, the Key

question 97

Essay

When a physical product cannot easily be differentiated, the key to competitive success may lie in adding valued services and improving quality. Identify the six main service differentiators.


Definitions:

Quota Limit

A restriction on the amount or number of a particular good that can be imported or exported.

Ceiling Price

It is a legally imposed maximum price on a good or service, intended to prevent prices from rising above a certain level.

Demand Price

The maximum price at which a consumer is willing to buy a specific quantity of a good.

Binding Quota

A limit on the quantity of goods that can be imported or exported over a period, which cannot be exceeded.

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