Define Cannibalization and Product Differentiation

question 46

Essay

Define cannibalization and product differentiation. How can product differentiation help avoid cannibalization?

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Definitions:

Management By Stress

A management strategy that deliberately imposes stress or high-pressure conditions on employees to increase productivity or efficiency, often at the cost of employee well-being.

Wage Flexibility

The ability of wages to adjust in response to changes in the economy, such as supply and demand for labor.

Incentive Plans

Reward systems designed to motivate employees by tying a portion of their earnings to their performance or achievement of targets.

Standardized Wages

A policy or practice aimed at ensuring employees performing similar tasks with similar experience levels are paid equally.