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Competency-Based Pay Systems Are Also Called Skill-Based Pay Systems

question 37

True/False

Competency-based pay systems are also called skill-based pay systems.


Definitions:

Market Segmentation

The method of segregating a potential customer base into categories or segments according to various traits.

Cannibalization

The detrimental impact on sales of a product due to the introduction of a similar product by the same company.

Tiffany/Walmart Strategy

A business approach that contrasts high-end, premium products and services (Tiffany) with low-cost, high-volume goods (Walmart), targeting different market segments.

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