One of the Four Generic Business Strategies That Requires Products

question 129

Multiple Choice

One of the four generic business strategies that requires products to have significant points of difference to target one or only a few market segments is referred to as a ________ strategy.

• A) cost focus
• B) differentiation
• C) cost leadership
• D) profit enhancement
• E) differentiation focus

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Definitions:

Advantage

A condition or circumstance that puts one in a favorable or superior position relative to others.

Moral People

Individuals who act in ways that are considered ethically right and good, often guided by personal conscience and societal norms.

Rawls

A philosopher known for his theory of justice as fairness, emphasizing equal basic rights, equality of opportunity, and the prioritization of the least advantaged in society.

Traits

Characteristics or attributes that can be inherited or acquired, distinguishing one individual from another.