Broad Differentiation Strategies Are Well-Suited for Market Circumstances Where

question 43

Multiple Choice

Broad differentiation strategies are well-suited for market circumstances where:

• A) there are many ways to differentiate the product or service that have value to buyers.
• B) most buyers have the same needs and use the product in the same ways.
• C) technological changes are slow-paced.
• D) barriers to entry are high and suppliers have a low degree of bargaining power.
• E) price competition is especially vigorous.

Recognize the factors influencing the choice of leadership style, such as the importance of decision acceptance, information availability, and situational clarity.

Differentiate between decision-making methods (authority decision, consultative decision, group decision) in leadership and their situational appropriateness.

Describe substitutes for leadership and situations where leadership may be less influential.

Explain the role of leader and follower characteristics in determining the effectiveness of leadership styles.

---

Definitions:

Niche-Markets

Targeted, focused markets that cater to specific, specialized needs of a certain group of customers, offering tailored solutions.

Object Sociality

The extent to which objects, products, or services are shared and discussed within a social network or community.

Object Sociality

The concept that objects and products can create social connections between people based on shared interests or use.

Momentum Effect

The phenomenon where the movement (either upwards or downwards) of a stock price or market trend tends to continue for a period of time.