Match Each Item with a Statement Below

question 25

Multiple Choice

Match each item with a statement below:

-Assumes a systems approach where there are two subsystems: service delivery and support activities

• A)oligopoly
• B)perfect competition
• C)low-cost leadership
• D)economies of scale
• E)external environment
• F)strategic group
• G)monopolistic competition
• H)market niche
• I)monopolies
• J)value chain

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Definitions:

Target Pricing

A pricing strategy where the selling price is determined based on the desired profit margin and the cost to manufacture or buy the product.

Cost-Oriented Pricing

A pricing strategy that determines the selling price based on the cost of the product plus a markup.

Production

The process of creating goods or services, involving tasks such as design, raw material procurement, manufacturing, and quality control.

Consumer Tastes

Preferences and inclinations of consumers in terms of what they like, desire, or find appealing.