A Cost Focus Strategy Refers to One of the Generic

question 52

Multiple Choice

A cost focus strategy refers to one of the generic business strategies that

• A) focuses on reducing expenses and, in turn, lowers product prices, while targeting a broad array of market segments.
• B) requires products to have significant points of difference to target one or only a few market segments.
• C) requires products to have significant points of difference to charge a higher price while targeting a broad array of market segments.
• D) involves controlling expenses and, in turn, lowering product prices targeted at a narrow range of market segments.
• E) seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.

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Definitions:

Waive Warranties

involves the voluntary relinquishment of certain guarantees or assurances, typically regarding the condition or quality of goods and services, by a buyer or recipient.

Implied Warranties

Unspoken, unwritten assurances that a product or service meets certain quality standards and is fit for the purpose sold, even though not expressly stated.

Express Warranties

Explicit assurances provided by the seller about the quality, performance, or condition of a product.

Implied Warranty Of Merchantability

A legal presumption that goods sold by a merchant are fit for the general purpose for which they are sold.