Zara Has Developed Capabilities to Compete in the "Fast Fashion

question 61

Multiple Choice

Zara has developed capabilities to compete in the "fast fashion" portion of the clothing market, including quickly copying runway fashions; vertical integration from design to point of sale; flexible, just-in-time manufacturing systems; and a time to market for new items of just three weeks compared to an industry average of nine months. These are all characteristics of what business level strategy?

• A) Cost leadership
• B) Differentiation
• C) Integrated, low-cost differentiated
• D) Stuck-in-the-middle

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Definitions:

UCC

The Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States, intended to standardize and simplify the law across jurisdictions.

Renunciation

The formal rejection of a claim, right, or possession, usually involving a legal or official declaration.

Forbear

To refrain from enforcing a right or claim, or to abstain from doing something.

Unilateral Contract

A contract in which one party makes a promise in exchange for the other party's performance, rather than a promise in return.