Broad Differentiation Strategies Generally Work Best in Market Circumstances Where

question 91

Multiple Choice

Broad differentiation strategies generally work best in market circumstances where:

• A) buyer needs and uses of the product are diverse and they are not fully satisfied by a standardized product.
• B) most buyers have similar needs and use the product in the same ways.
• C) the products of rivals are weakly differentiated and most competitors are resorting to clever advertising to try to set their product offerings apart.
• D) buyers are price sensitive and buying switching costs are quite low.
• E) the five competitive forces are strong.

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Definitions:

Change Competency

The ability of an organization or individual to effectively adapt to and manage changes.

KSAs

Acronym for Knowledge, Skills, and Abilities; important components that influence an individual's performance and efficiency in particular tasks.

Constant Improvement

denotes an ongoing effort to enhance all aspects of an organization or individual's performance, focusing on incremental upgrades over time.

External Pressures

Forces or influences originating outside an individual or organization that can affect behavior, decisions, or performance.