Price Can Be Used as a Strategic Variable to Achieve

question 61

True/False

Price can be used as a strategic variable to achieve specific goals,including ROI,profit,and rapid recovery of product development costs.

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Definitions:

Operational Focus

Concentration on the day-to-day tasks and management of business operations to optimize efficiency and meet short-term objectives.

Strategic Focus

Concentrating organization's efforts and resources on a specific strategic direction to achieve competitive advantage or goals.

Strategic Posture

An organization's stance or approach in planning and decision-making processes to shape its long-term direction and the way it interacts with its environment.

Blue Ocean Strategy

A business approach that involves creating a new market space or "blue ocean," thereby making the competition irrelevant.