A Strategy Whereby Companies Attempt to Gain Competitive Advantage by Offering

question 61

Multiple Choice

A strategy whereby companies attempt to gain competitive advantage by offering value that is not available in other products or services is known as __________.

• A)product depreciation
• B)mass customization
• C)product differentiation
• D)service dissemination

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Definitions:

Economic Power

The capacity of an entity, whether a nation, corporation, or individual, to influence or control economic activities and outcomes.

CEO Compensation

The total remuneration package, including salary, bonuses, and stock options, offered to the chief executive officer of a corporation.

Employee Compensation

Refers to the total amount of pay and benefits, including salary, wages, bonuses, and benefits, that an employee receives from their employer.

Supermarkets

Retail stores that offer a wide variety of goods, including food, household items, and often pharmaceuticals, under one roof.