Offering a Small Product Range to a Small Number of Customer

question 43

Multiple Choice

Offering a small product range to a small number of customer groups is: 

• A) a narrow-scope strategy.
• B) an imitation strategy.
• C) a broad-scope strategy.
• D) a way of reducing market uncertainties.

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Definitions:

Arbitration

A form of dispute resolution where an impartial third party makes a binding decision to resolve a conflict.

Arbitrator

A neutral third party who is appointed to resolve a dispute between two or more parties by making a decision after considering all the relevant facts and arguments.

Negotiations

The process in which two or more parties with differing needs and goals discuss an issue to find a mutually acceptable agreement.

Alternative Dispute Resolution

A range of processes and techniques outside of the judicial system that are used to resolve conflicts or disputes between parties, including mediation and arbitration.