When a Firm Adopts a Differentiation Strategy to Attain Competitive

question 100

Multiple Choice

When a firm adopts a differentiation strategy to attain competitive advantage, it focuses on:

• A) delivering unique features to its customers.
• B) providing the lowest prices to its customers.
• C) maximizing its profits by providing minimal customer service.
• D) lowering costs by employing low-skill employees.

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Definitions:

Merit Rating

A system used to evaluate the performance of employees by systematically rating them on their abilities and achievements within the organization.

State Unemployment Taxes

Taxes paid by employers to fund the state unemployment compensation programs for laid-off workers.

Merit Rating

A system used to evaluate and grade an employee’s performance, often influencing salary increments and promotions.

Unemployment Tax Rates

Rates set by governments to fund unemployment insurance programs, calculated as a percentage of employer payroll expenses.