One of Porter's Four Generic Business Strategies That Requires Products

question 179

Multiple Choice

One of Porter's four generic business strategies that requires products to have significant points of difference to target one or only a few market segments is referred to as a ________ strategy.

• A)cost focus
• B)differentiation
• C)cost leadership
• D)profit enhancement
• E)differentiation focus

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Definitions:

Unilateral Contract

A contract where one party makes a promise in exchange for the performance of a specified act by the other party, who is not obligated to perform.

Quasi Contract

An obligation imposed by law to prevent unjust enrichment, where no actual contract exists.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, intended to harmonize the law among the states.

Article 2

A section of the UCC that governs the sale of goods, establishing standards and regulations for contracts and transactions.