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:

Retailer

An enterprise or individual who markets products for personal or domestic consumption by customers.

Distributor

An intermediary entity in the supply chain that purchases products from manufacturers or wholesalers and sells them to retailers or directly to consumers.

Push Processes

A strategy in manufacturing and supply chain management where products are produced or ordered in anticipation of demand rather than in response to it.

Speculative Processes

Operations carried out with the objective of making a profit from predicted future price movements rather than from the inherent value of the goods or services.