A Differentiation Strategy Can Be Effective in Controlling the Power

question 58

Multiple Choice

A differentiation strategy can be effective in controlling the power of substitutes in an industry because:

• A) customers have low switching costs.
• B) substitute products are lower quality.
• C) a differentiating firm can always lower prices.
• D) customers develop brand loyalty.

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Definitions:

Occipital Lobes

The rearmost lobes in the brain, responsible for processing visual information.

Midbrain

In vertebrate embryos, one of the three divisions of the developing brain. Also called mesencephalon. Compare with forebrain and hindbrain.

Visual Reflexes

Automatic responses to visual stimuli, such as blinking or pupil dilation, that do not require conscious processing.

Auditory Reflexes

Involuntary responses to sound that involve muscles within the ear and elsewhere in the body, aiding in protecting the ear from loud noises or facilitating the focus on specific sounds.