Competition Has Become More Oriented to Value in Relation to Cost

question 21

True/False

Competition has become more oriented to value in relation to cost and service as knowledgeable buyers expect similar price and product and service features.

---

Definitions:

Personality Attributes

Characteristics or qualities that contribute to an individual's distinctive patterns of thinking, feeling, and behaving.

Cultural Differences

Variations in the customs, values, beliefs, and practices among people from different societies or cultures.

Collectivism

A cultural orientation that emphasizes the group over individual goals and values, fostering strong social cohesion and interdependence.

Cultural Characteristic

Traits or features that define a group of people based on shared traditions, languages, art, and social behaviors.