As Products Become Less Differentiated

question 29

Multiple Choice

As products become less differentiated:

• A) consumers are less willing to switch in response to price changes and competition becomes more intense.
• B) consumers are more willing to switch in response to price changes and competition becomes more intense.
• C) consumers are less willing to switch in response to price changes and competition becomes less intense.
• D) consumers are more willing to switch in response to price changes and competition becomes less intense.

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Definitions:

Qualitative Forecasting

The method of prediction based on non-quantifiable information such as expert opinions, industry trends, and qualitative comparisons.

Scenario Planning

A method used by organizations to visualize and plan for possible future conditions or events and how to respond to them.

Nominal Group Techniques

A structured method for group brainstorming that encourages contributions from everyone in the group and is used to generate and prioritize ideas or solutions.

Linear Relationship

A direct correlation between two variables where a change in one variable is consistently associated with a proportionate change in the other.