Broad Differentiation Strategies Generally Work Best in Market Situations Where

question 94

Multiple Choice

Broad differentiation strategies generally work best in market situations where

• A)low-cost value drivers are easily obtained.
• B)socially complex intangible attributes such as company reputation, long-standing relationships with buyers, and image are relatively easier to imitate.
• C)the products of rivals are weakly differentiated and most competitors are resorting to clever advertising to try to set their product offerings apart.
• D)technological change is fast-paced and competition revolves around rapidly evolving product features.
• E)market competition revolves around slowly evolving product features.

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Definitions:

Cost Data

Information related to the expenses incurred in producing a product or delivering a service.

Price Elasticity of Demand

A measure of the sensitivity of quantity demanded to a change in price, indicating how much the quantity demanded of a good will change when its price changes.

Market Power

The ability of a company or group of companies to manipulate or control prices and total market output.

Oligopolistic

Pertaining to a market structure characterized by a small number of firms whose actions and policies can significantly impact the entire market.