The Four Basic Strategies a Company Can Employ to Deal

question 3

Multiple Choice

The four basic strategies a company can employ to deal with competitive forces are:

• A)(1)increase process efficiency,(2)implement demand control,(3)focus on market niche,and (4)low-cost leadership.
• B)(1)strengthen customer and supplier intimacy,(2)focus on market niche,(3)product differentiation,and (4)implement demand control.
• C)(1)focus on market niche,(2)product differentiation,(3)mass customization,and (4)implement demand control.
• D)(1)strengthen customer and supplier intimacy,(2)focus on market niche,(3)product differentiation,and (4)low-cost leadership.

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Definitions:

Self-Esteem

The perception and evaluation of one's own worth or value.

Socioemotional Selectivity Theory

A theory suggesting that as people age, they shift their priorities and social interactions towards more emotionally fulfilling relationships and experiences.

Social Networks

Platforms or structures made up of individuals or organizations interconnected through various social relationships, such as friendship, kinship, common interests, or shared knowledge.

Agoraphobia

Fear of open, crowded places.