The Keys to Maintaining a Broad Differentiation Strategy Are to

question 101

Multiple Choice

The keys to maintaining a broad differentiation strategy are to

• A)stress constant innovation to stay ahead of imitative rivals and to concentrate on a few differentiating features.
• B)charge a premium price that more than covers the extra costs of differentiating features and to convince customers to be brand loyal.
• C)out-innovate and out-advertise rivals.
• D)emphasize personalized customer service and to add as many differentiating features as possible.
• E)keep prices close to the average of all rivals and to spend heavily on new product R&D.

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Definitions:

Custom

Traditional and established practices or behaviors that are specific to a culture, society, or community.

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The belief in a single, all-powerful god, as opposed to religions that believe in multiple gods.

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An Islamic finance concept involving a partnership where one party provides capital, and the other provides expertise to undertake a business or investment project.

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A monotheistic Abrahamic religion founded in the 7th century based on the Quran, believed by its followers to be the word of God as conveyed by the Prophet Muhammad.