According to Porter,the Generic Competitive Strategy That Reflects the Ability

question 17

Multiple Choice

According to Porter,the generic competitive strategy that reflects the ability to provide unique and superior value to the buyer in terms of product quality,special features,or after-sale service is called

• A) competitive scope.
• B) differentiation.
• C) focus.
• D) diversification.
• E) cost leadership.

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Definitions:

Profit-Maximizing

The process or strategy undertaken by a company to increase its profits to the highest possible level.

Loss-Minimizing

A strategy employed by businesses to reduce financial losses under unfavorable market conditions, often by cutting costs or restructuring operations.

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the number of units produced, giving a per-unit cost of production.

Profit-Maximizing

A strategy or point at which a business achieves its highest possible profit, with an optimal level of output and pricing.