Achieving Differentiation Parity Along with Lower Costs Is Important to a Low-Cost

question 18

Multiple Choice

Achieving differentiation parity along with lower costs is important to a low-cost leader because:

• A) The firm is then able to target a less price-sensitive customer market.
• B) Creating the same value as the competition, combined with lower costs, gives the firm a competitive advantage.
• C) The firm is then able to incorporate differentiating features that cause buyers to prefer its products.
• D) All of these.

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Definitions:

Technopreneur

An entrepreneur who focuses on innovation in technology, leveraging technological advancements to develop new products or services.

Visionary Technologist

A professional who foresees significant technological changes and innovations, guiding their organization or sector towards future advancements.

Social Entrepreneur

Runs a social enterprise, a business with primarily social objectives whose surpluses are principally reinvested for that purpose in the business or in the community, rather than being driven by the need to maximise profit for shareholders and owners.

Entrepreneurial Success

The achievement of desired business goals and objectives by individuals who organize and operate enterprises, taking on greater than normal financial risks.