The Competitive Strategy of Differentiation Requires That a Product or Service

question 38

Multiple Choice

The competitive strategy of differentiation requires that a product or service must be:

• A)Always readily available.
• B)Price competitive.
• C)Produced at the lowest possible cost.
• D)Unique in some important way, in terms of features, innovation, service or quality.
• E)Marketed in different ways to different groups.

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Definitions:

AASB 141

An accounting standard issued by the Australian Accounting Standards Board that deals with the agricultural sector, specifically the accounting for agricultural activity.

IAS 16

An International Accounting Standard outlining the accounting treatments for property, plant, and equipment, including its recognition and measurement.

IAS 41

A global accounting guideline focused on managing financial records for farming activities, specifically regarding the conversion of biological assets, such as live plants and animals, into farm products.

Investment Property

Property (land or a building - or part of a building - or both) held to earn rentals or for capital appreciation or both, rather than for use in the production or supply of goods or services.