In the Current Age, Global Economy Changes Competitive Strategies Because

question 30

Multiple Choice

In the current age, global economy changes competitive strategies because it ________.

• A) enables unprecedented product differentiation
• B) makes communication between a company and its customer one-sided
• C) reduces the risk that a company has to bear
• D) eliminates the need for localizing products

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Definitions:

Demand Changes

Alterations in consumer desire or need for products and services, influenced by factors like price, trends, and economic conditions.

Price War

A competitive strategy involving retailers or companies reducing their product prices to gain more customers and market share from competitors.

Everyday Even Lower Pricing

A pricing strategy aimed at consistently offering products at lower prices than usual, meant to attract and retain customers.

Market War

Intense competitive actions among companies in the same industry to gain market share, often involving aggressive pricing, advertising, and product launches.