In the Necessity Strategy, the Service or Product Offering Must

question 30

Multiple Choice

In the necessity strategy, the service or product offering must be:

• A) at least equal to the level of the competition
• B) priced dramatically lower than the completion
• C) must be significantly higher in quality than the competition
• D) a niche product or service

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Definitions:

Criminal Liability

Refers to the legal responsibility for a breach of law that is punishable by the state.

Securities Violations

Illegal practices in the trading or issuing of stocks and bonds which include insider trading, fraud, and misrepresentation.

Willful

An action done intentionally or with reckless disregard for the consequences, often used in legal contexts to denote deliberate misconduct.

Strategic Growth Plan

A detailed outline developed by a business to identify goals, strategies, and actions for increasing its size, revenue, and competitive position over time.