A Business with a Competitive Price and a Large Value

question 12

Multiple Choice

A business with a competitive price and a large value advantage is most likely to ________.

• A)lower its price to create a comparable value on the basis of positioning
• B)choose not to compete in this segment of the market
• C)improve performance on the basis of customer price-performance preferences to create customer value
• D)charge more for its product and still offer a good value
• E)lower its price,as its price is high relative to the value it offers

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Definitions:

Cognitive Process

Mental actions or operations involved in acquiring, processing, and storing knowledge.

Personality

The combination of characteristics or qualities that form an individual's distinctive character, affecting how they think, feel, and behave.

Problem-Solving

The cognitive process of finding solutions to difficult or complex issues.

Mental Representations

Internal cognitive symbols that represent external reality, allowing individuals to think about objects and events not currently present.