A Company's Competitive Strategy

question 43

Multiple Choice

A company's competitive strategy

• A)defines the set of customer needs that it seeks to satisfy through its products and services.
• B)specifies the portfolio of new products that it will try to develop.
• C)specifies how the market will be segmented and how the product will be positioned,priced,and promoted.
• D)determines the nature of procurement and transportation of materials as well as manufacture and distribution of the product.

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Definitions:

Time Ticket

A record that tracks the amount of time an employee spends on various activities or tasks, used for billing clients or allocating labor costs.

Service Firms

Businesses that provide intangible products or services to consumers or other businesses.

Manufacturing Firms

Companies that use labor, equipment, and raw materials to produce finished goods on a large scale.

Work in Process Inventory

Goods partially completed during the manufacturing process, not yet ready for sale.