In Which of the Following Circumstances Is a Strategy to Be

question 61

Multiple Choice

In which of the following circumstances is a strategy to be the industry's overall low-cost provider not particularly well matched to the market situation?

• A) When the offerings of rival firms are essentially identical, standardized, commodity-like products
• B) When there are few ways to achieve differentiation that have value to buyers
• C) When price competition is especially vigorous
• D) When buyers have widely varying needs and special requirements and the prices of substitute products are relatively high
• E) When entry barriers are low and there is a stream of newcomers to the industry

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Definitions:

Buying Process

A series of steps consumers go through, from recognizing a need or desire to the final purchase and post-purchase evaluation.

Follow-up

A process of making additional contact after an initial meeting or communication to ensure ongoing engagement or to further a goal.

Presentation

A visual or verbal project designed to communicate information, ideas, or data effectively to an audience.

Order Getter

A salesperson whose primary responsibilities are identifying potential customers and engaging those customers in discussions to attempt to make a sale.