Product Differentiation Means

question 137

Multiple Choice

Product differentiation means

• A) making a product that has perfect substitutes.
• B) making a product that is entirely unique.
• C) the inability to set your own price.
• D) making a product that is slightly different from products of competing firms.
• E) making your demand curve horizontal.

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Definitions:

Performance Advantages

Benefits or superior outcomes achieved by individuals, teams, or organizations that effectively utilize their resources, talents, and strategies.

Conservative Decision

A decision-making approach that involves choosing options that have the least potential for negative outcomes or risks, preferring safety and stability.

Complex Problems

Issues or challenges that are multi-faceted, involving numerous variables, and are difficult to understand or solve.

Homogeneous Teams

Groups consisting of members with similar backgrounds, skills, and perspectives, which can lead to more harmonious operations but may lack diversity in thought.