As It Pertains to New Product Characteristics, the Superior Position

question 153

Multiple Choice

As it pertains to new product characteristics, the superior position a product enjoys over competing products if consumers believe it has more value than other products in its category is referred to as

• A)product preference.
• B)competitive advantage.
• C)superiority.
• D)observability.
• E)compatibility.

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Definitions:

Review Period

The designated time frame within which a process or performance is evaluated.

Cycle Stock

Inventory that is replenished regularly in response to actual customer demand.

Safety Inventory

Additional stock kept on hand to protect against variability in demand or supply.

Warehouse Inventory

The list of goods and materials held in a warehouse that are available for sale or production needs.