While There Are Many Routes to Competitive Advantage, the Two

question 98

Multiple Choice

While there are many routes to competitive advantage, the two biggest factors that distinguish one competitive strategy from another are

• A)whether a company can build a brand name and an image that buyers trust.
• B)whether a company's target market is broad or narrow and whether the company is pursuing a low-cost or differentiation strategy.
• C)whether a company can achieve lower costs than rivals and whether the company is pursuing the industry's sales and market share leader's role.
• D)whether a company can offer the lowest possible prices and whether the company can get the best suppliers in the market.
• E)whether a company's overall costs are lower than competitors' and whether the company can achieve strong product differentiation.

Identify the differences between declarative (explicit) and procedural (implicit) memory systems.

Relate different memory models and theories to real-world memory recall scenarios.

Distinguish between working, short-term, and long-term memory components and their analogies to computer processes.

Recognize the impact of encoding strategies and effort on memory recall effectiveness.

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Definitions:

Gasoline

A volatile, flammable liquid derived from petroleum, commonly used as fuel in internal combustion engines.

Gas Pump

A machine at a fuel station that dispenses liquid fuels such as gasoline, diesel, or ethanol-blended fuels into the tanks of vehicles.

South Dakota

A state located in the Midwestern region of the United States, characterized by its rolling plains and rugged national parks.

Price Elasticity

A measure of the sensitivity of the quantity demanded or supplied of a good to a change in its price.