A Strategy Designed to Compete Within a Narrow Market or Product

question 51

Multiple Choice

A strategy designed to compete within a narrow market or product segment is called a ________ strategy.

• A) scope
• B) differentiation
• C) commoditization
• D) focus

Recognize the impact of digital communication's opportunities and challenges.

Understand the application and avoidance of jargon in business writing.

Understand the components and classifications of costs in manufacturing and service environments.

Differentiate between various types of costs (variable, fixed, direct, indirect, period, and product costs).

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Definitions:

Human Memory

The capacity of the human brain to store, retain, and recall information, experiences, and procedures, including facts and past events.

Computers

Electronic devices that process, store, and retrieve information, executing tasks based on programmed instructions.

Savings Method

is a memory recall technique noted by Ebbinghaus, measuring the retention of information by comparing the rate of learning to the rate of relearning the same information.

Relearns

The process of learning information or skills again, which were previously acquired and then forgotten or unpracticed.