A Competitive Strategy to Be the Low-Cost Provider in an Industry

question 85

Multiple Choice

A competitive strategy to be the low-cost provider in an industry works well when

• A)price competition among rival sellers is especially sluggish.
• B)there are numerous ways to achieve product differentiation that have no value to buyers.
• C)buyers incur high costs in switching their purchases from one seller/brand to another.
• D)industry newcomers use introductory low prices to attract buyers and build a customer base.
• E)industry newcomers use high introductory prices to let buyers know they have a superior product to build a customer base.

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Definitions:

Conscious Mind

The aspect of the mind that involves awareness of thoughts, feelings, and surroundings in the present moment.

Unconscious Mind

A part of the mind that is not in forefront awareness but influences thoughts, feelings, and behaviors.

Usual Awareness

The routine level of conscious knowledge or perception of the environment and one's own thoughts and feelings.

Dreaming

A series of thoughts, images, and sensations occurring in a person's mind during sleep, often associated with rapid eye movement (REM) sleep phases.