Jeff Wants to Open a New Coffee Shop in His

question 68

Multiple Choice

Jeff wants to open a new coffee shop in his town where there are already two other coffee shops. In order to attract more customers, James decides to charge a lower price for each cup of coffee than what his competitors charge. This is an example of a(n) _____ strategy.

• A) established
• B) generic
• C) marked
• D) general
• E) standard

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Definitions:

Facilities

Physical buildings and infrastructures that are used for the production, handling, or storage of goods.

Supply Chain

A constellation of groups, individuals, activities, information, and supplies engaged in the process of delivering a product or service from the producer to the purchaser.

High Tariffs

Elevated taxes imposed on imported goods, aimed at protecting domestic industries from foreign competition.

Manufacturing Plants

Facilities where goods are produced in large quantities through the combination of workers, machinery, and processes.