Examlex
What are the 3 classifications of Ethical Theories and provide a brief explanation for each classification?
Differentiation Strategy
A business approach where a company develops unique products or services to stand out from competitors.
Unique Product
A product that is distinct in its features, functionality, or branding, setting it apart from competitors' offerings.
Cost Leadership Strategy
A business strategy focused on gaining competitive advantage by being the lowest cost producer in the market while maintaining acceptable quality levels.
Low Prices
A pricing strategy where goods or services are offered to consumers at a lower cost compared to competitors.
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