There Are Ways That Brand Leaders Can Respond to Competitors

question 113

Multiple Choice

There are ways that brand leaders can respond to competitors' price declines. Which of the following strategies involves spending money to improve perceived quality.

• A) Increase price and improve quality.
• B) Reduce your price.
• C) Maintain your price.
• D) Further differentiate the product or service.
• E) Launch a low-price fighter line.

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Definitions:

Future Generations

Individuals who will live in the succeeding periods, whose interests are considered in long-term planning and sustainability efforts.

Eco-Efficiency Measure

An assessment of the economic performance of a process or product in terms of its environmental impacts, aiming for sustainability by reducing resources used and waste produced.

Material Price Efficiency

Material price efficiency is a measure of how effectively a business acquires its materials at a cost equal to or less than the standard or expected cost.

Energy Efficiency

The goal to reduce the amount of energy required to provide products and services.