A Production-Based Emphasis Toward a Low-Cost Provider Strategy Usually Requires

question 96

Multiple Choice

A production-based emphasis toward a low-cost provider strategy usually requires a company to strive for

• A)product superiority.
• B)continuous cost reductions without sacrificing acceptable quality and essential features.
• C)small-scale production or custom-made products that match the tastes and requirements of niche members.
• D)appealing features and better quality at lower costs than rivals.
• E)whatever differentiating features buyers are willing to pay for.

Distinguish between movements along the demand curve and shifts of the demand curve.

Identify the factors that cause shifts in the demand curve.

Recognize the difference between normal goods and inferior goods, and how income changes affect their demand.

Understand the concept of complements and substitutes and their impact on demand.