Which of the Following Types of Competitive Strategies Most Likely

question 247

Multiple Choice

Which of the following types of competitive strategies most likely will be effective for an industry in which the product is a standardized commodity?

• A) Low-cost leadership
• B) Best-cost provider
• C) Broad differentiation
• D) Focused differentiation

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Definitions:

False and Deceptive

Activities or practices that intentionally mislead consumers or misrepresent facts for gain.

Bill of Rights

A collective name for the first ten amendments to the United States Constitution, guaranteeing such rights as the freedoms of speech, assembly, and worship.

Inelastic Demand

A situation in which the demand for a product does not significantly change in response to a change in price.

Necessity

An essential requirement or need for survival or to maintain a certain standard of living.