A Company's Competitive Strategy

question 30

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.
• E) determines how it will obtain and maintain the appropriate set of skills and abilities to meet customer needs.

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Definitions:

Immigration

Immigration is the action of people moving to a country other than their native one with the intention to settle there.

Marginal Utility

The extra pleasure or advantage gained by a consumer from using an additional unit of a product or service.

Income Receivers

Individuals or entities that receive earnings from various sources, including employment, investments, and transfers.

Total Utility

The total satisfaction or benefit that a consumer gets from consuming a particular quantity of goods or services.