Which of the Following Is an Example of Competing on the Basis

question 103

Multiple Choice

Which of the following is an example of competing on the basis of differentiation?

• A) A firm manufactures its product with less raw material waste than its competitors do.
• B) A firm's products are introduced into the market faster than its competitors' products are.
• C) A firm's distribution network routinely delivers its product on time.
• D) A firm offers a much broader product line than its competitors do.
• E) A firm advertises more than its competitors do.

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Definitions:

Definiteness Standards

Legal criteria used to evaluate the clarity and specificity of contract terms, ensuring that all essential terms are clear enough to enforce the agreement.

Classical Contract Law

This term describes a legal framework that emphasizes freedom of contract, where contracts are agreements entered into voluntarily by the parties and are enforceable by law.

Binding Contract

An agreement between parties that is legally enforceable and has all the essential elements of a contract.

Offeror

The party in a contract proposition who makes the offer to enter into an agreement, proposing terms to another party, the offeree.