Functional Strategies to Improve Differentiation Should Include

question 48

Multiple Choice

Functional strategies to improve differentiation should include: 

• A) product offerings designed to be can be produced and delivered at as low a cost as possible
• B) standardization of the product offering and marketing mix to different market segments.
• C) hiring and employee development strategies designed to ensure that employees act in a manner that is consistent with the image that the company is trying to project to the world.
• D) initiation of a price war in order to grow volume and drive its weaker rivals out of the industry.
• E) products that have lower prices to allow a company to erect an economic moat around its business that keeps higher-cost rivals out.

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Definitions:

Centre-of-Gravity

A method used in logistics and supply chain management to determine the best location for facilities based on minimizing transportation costs, considering the locations of suppliers, customers, and other factors influencing the total cost.

Quantitative Methods

A systematic empirical investigation of observable phenomena via statistical, mathematical, or computational techniques.

Labour Productivity

A measure of economic performance that indicates the amount of goods and services produced by one hour of labor.

Low Wages

Low wages refer to compensation that is significantly lower than the average for comparable work in a specific region, industry, or within a particular occupation.