A Strategy Designed to Compete Within a Narrow Market or Product

question 70

Multiple Choice

A strategy designed to compete within a narrow market or product segment is called a ________ strategy.

• A)scope
• B)differentiation
• C)cost
• D)focus

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Definitions:

Institution

A structured and established organization or foundation, often societal or public, that serves a specific purpose, such as educational, financial, religious, or governmental.

Veil Of Ignorance

A philosophical tool proposed by John Rawls to ensure impartiality in ethical decision-making by imagining oneself ignorant of personal characteristics.

Difference Principle

A theory proposed by philosopher John Rawls suggesting social and economic inequalities should be arranged so they benefit the least advantaged members of society.

Primary Goods

Fundamental resources or conditions considered necessary for leading a good life, such as rights, liberties, income, and the bases of self-respect.