In Recent Years, Operations Management Has Become More Focused on Providing

question 149

True/False

In recent years, operations management has become more focused on providing services, because that is where the growth and profit potential is greatest.

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Definitions:

Highly Differentiated

Refers to products, services, or markets where there is significant variation in features, quality, or branding, making each distinct from others.

Marginal Revenue

The extra income a company gains by selling an additional unit of a product or service.

Average Revenue

The revenue a company receives per unit of sales, calculated by dividing total revenue by the number of units sold.

Differentiate Product

The strategy businesses use to make their products or services stand out from competitors, often through unique features or branding.