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:

Apples

Edible fruits with a rounded shape and sweet taste, grown on trees in temperate climates worldwide.

Diminishing Marginal Utility

The economic principle stating that as a person consumes more of a good, the satisfaction (utility) gained from consuming each additional unit decreases.

Indifference Curves

Graphs representing combinations of different goods that provide an individual with the same level of satisfaction, showing consumer preferences.

Total Utility

The cumulative satisfaction or value that a person derives from consuming a certain quantity of goods or services.