The Swatch Group Is the World's Second Largest Watchmaker

question 82

True/False

The Swatch Group is the world's second largest watchmaker.This shows that in the low-cost segment,brands compete on price and value.

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Definitions:

Buyer Sophistication

The level of awareness, knowledge, and discernment among consumers regarding the quality, features, and pricing of products or services.

Commoditization

The process by which products become indistinguishable from each other, leading to increased competition based on price.

Cost Leadership

A business strategy aimed at becoming the lowest cost producer in an industry, often resulting in competitive pricing.

Product Differentiation

The process of distinguishing a product or service from others in the market to make it more attractive to a particular target market.