Samsung and Apple Are Open to New Ideas, Relentlessly Pursue

question 52

Multiple Choice

Samsung and Apple are open to new ideas, relentlessly pursue new solutions, and work to get new products to market quickly. They serve customers who want state-of-the-art products and services, regardless of the costs in terms of price or inconvenience. Which of the following value disciplines is illustrated from this example?

• A) operational excellence
• B) customer intimacy
• C) product leadership
• D) product activation
• E) product binning

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Definitions:

Profit-Maximizing

A strategy or approach aimed at achieving the highest possible profit.

Perfectly Competitive

A market structure characterized by many small firms, homogeneous products, and easy market entry and exit, leading to minimal profit margins for the firms.

Marginal Product

Marginal Product is the increase in output that results from employing one more unit of a factor of production, holding all other factors constant.

Rental Prices

The amount of money charged by a landlord to a tenant for the use of property, such as an apartment or commercial space.