Firms Usually Respond to Pressures for Cost Reduction by Trying

question 59

Multiple Choice

Firms usually respond to pressures for cost reduction by trying to

• A) lower the costs of value creation.
• B) be locally responsive.
• C) undertaking product differentiation.
• D) diversifying product lines.

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Definitions:

Buying Behavior

The decision-making processes and actions of consumers regarding the search for, selection, purchase, use, and disposal of goods and services.

Marketing Research Process

A systematic methodology for gathering, recording, and analyzing data about issues related to marketing products and services.

Focus Groups

A research method that gathers feedback, opinions, or perceptions from a group of people about a product, service, concept, or idea.

Reliability

The company’s ability to ensure that customers will receive a good or service within a stated lead time and that there will be no problems with the order.