Competitive Priorities Define the Dimensions on Which the Firm Should

question 63

Multiple Choice

Competitive priorities define the dimensions on which the firm should excel with its products or services.Which one of the following statements regarding this concept is TRUE?

• A) The strategy of emphasizing lower price is most appropriate when the product is highly differentiated.
• B) McDonald's restaurants emphasize high-performance design quality rather than consistent quality.
• C) All eight dimensions of competitive priorities should be equally emphasized in order to service the increasingly competitive market of the 1990s.
• D) Often there are trade-offs among competitive priorities; thus, the best emphasis is situational.

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Definitions:

Monetary Policy

Actions of a central bank, currency board, or other regulatory committees that determine the size and rate of growth of the money supply, which in turn affects interest rates.

Fiscal Policy

Refers to government actions regarding taxation and spending aimed at influencing a country's economy.

Monetary Growth Rate

The rate at which the amount of money in circulation increases over a specific period.

Money Supply

The lump sum of monetary assets available in an economy at a particular point.