Competitive Advantage with Product Differentiation Occurs When a Company

question 34

Multiple Choice

Competitive advantage with product differentiation occurs when a company

• A) creates competitive advantage by grouping customers on the basis of important differences in their needs.
• B) helps firms keep costs to a minimum.
• C) creates, makes, and sells a product in a way that better satisfies customer needs than its rivals.
• D) is focused on corporate-level strategy.
• E) allows its managers to ignore costs.

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Definitions:

Commuting Distance

The distance that an individual travels from their home to their place of work or study.

Parameter

A numerical characteristic or measure that describes and summarizes a whole population.

Statistic

is a single measure, calculated from sample data, used to infer or describe properties of a population.

Significance Level

A threshold for determining whether a statistical result is considered statistically significant, usually denoted by alpha (α).