A Company Attempting to Be Successful with a Broad Differentiation

question 38

Multiple Choice

A company attempting to be successful with a broad differentiation strategy has to:

• A) study buyer needs and behavior carefully to learn what buyers consider important,what they think has value,and what they are willing to pay for.
• B) incorporate more differentiating features into its product/service than rivals.
• C) concentrate its differentiating efforts on marketing and advertising (where almost all differentiating features are created).
• D) have a widely known and highly respected brand name image.
• E) provide a top-of-the-line product and sell it at premium prices.

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Definitions:

Erikson's Developmental Theory

A theory by Erik Erikson that outlines eight stages of psychosocial development from infancy to adulthood.

Psychosocial

Refers to the interrelation of social factors and individual thought and behavior.

Operant Learning Theory

A theory of learning that argues behavior is controlled by the consequences that follow it, emphasizing reinforcement and punishment.