To Attain a Differentiation-Based Competitive Advantage, a Company Would Be

question 35

Multiple Choice

To attain a differentiation-based competitive advantage, a company would be UNLIKELY to

• A)deliver value to customers via the company's resources, competencies, and value chain activities that rivals don't have or can't afford to match and are well-matched to the requirements of the strategy.
• B)utilize research and development to incorporate tangible features that raise product performance and increase customer satisfaction with the product.
• C)incorporate product attributes and user features that lower the buyer's overall costs of using the company's product.
• D)appeal to buyers who are sophisticated and shop hard for the best, stand-out differentiating attributes.
• E)build in product design features that enhance buyer satisfaction in intangible or noneconomic ways.

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Definitions:

Production Possibilities Frontier

A curve that illustrates the maximum viable combination of two products that can be produced with fixed resources and technology.

Efficient

An economic condition where resources are allocated in the most optimal way, maximizing the production of goods and services without wasting any resources.

Production Possibilities Frontier

A graph that illustrates the maximum amounts of two goods that a society can produce with the available resources and technology, given that it is using its resources efficiently.

Representativeness Bias

A cognitive bias where individuals incorrectly assess the probability of an event based on similarities to existing prototypes in their mind, rather than on actual evidence.