Differentiation Refers To

question 38

Multiple Choice

Differentiation refers to:

• A)all the activities from the gathering of raw materials to the sale of the finished product that a business goes through to make a product.
• B)creating products or providing services at the lowest cost possible relative to its competitors while maintaining a quality that is acceptable to consumers.
• C)creating unique value for the customer through advanced technology, high-quality ingredients or components, product features, and superior delivery time.
• D)the number of similar businesses or business activities at the same level of the value chain.
• E)the cost advantages that a business obtains through expanding in size.

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Definitions:

Managerial Learning Curve

The process by which managers gain experiential knowledge that improves their decision-making, efficiency, and effectiveness over time.

Unrelated Diversification

A business strategy where a company expands into industries or markets that are not related to its existing business activities.

Acquiring New Businesses

The process by which a company purchases or takes over other businesses to expand its operations, market reach, or product offerings.

Related Diversification

A strategy where a business expands into new areas that have a connection or relation to its existing operations or markets.