In Order for the Strategy of Tying to Work, Hewlett

question 51

Multiple Choice

In order for the strategy of tying to work, Hewlett Packard (HP) must tie its printers to HP ink cartridges, and:

• A) no firm can enter the market for HP ink.
• B) no firm can enter the market for HP printers.
• C) HP must sell its printers at relatively high price.
• D) HP must always sell its printers and ink cartridges in a package.

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Definitions:

Specific Customer Needs

Particular requirements or desires of consumers that businesses aim to meet with their products or services.

Competitive Advantage

The attributes that allow an organization to outperform its competitors, such as cost structure, product offerings, brand, and service.

Competitive Scope

The breadth and scale of competition a company faces, ranging from local to global markets and across various segments.

Cost Leadership

A business strategy aiming to achieve the lowest operational costs in an industry to offer products or services at a lower price than competitors.