Experiments

question 38

Multiple Choice

Experiments

• A) are used to identify a better way of doing things.
• B) have high personnel costs.
• C) represent a common business research method.
• D) require less control than other business research methods.

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Definitions:

Product Differentiation

The process of distinguishing a product or service from others in the market to make it more appealing to a particular target market.

Barriers To Entry

describe the obstacles or hindrances that prevent new competitors from easily entering an industry or area of business.

Sustained Competitive Advantage

An enduring edge over competitors gained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher prices.

Difficult To Imitate

Referring to a unique characteristic or attribute of a product or service that competitors find hard to replicate.