To Be Successful and to Survive the Shakeout Stage of the Industry

question 65

Multiple Choice

To be successful and to survive the shakeout stage of the industry life cycle, a firm should

• A) charge higher prices than its competitors.
• B) focus on product innovation rather than process innovation.
• C) gain economies of scale.
• D) shift from price to non-price competition.

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Definitions:

Reliability Correlation

A statistical measure that assesses the consistency and stability of a psychological test or measurement over time.

Median

A measure of central tendency in statistics, representing the middle value in a set of data when arranged in order.

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data values from the mean value.

Percentile Score

The percentage of people someone scores higher than on a scale or test; a score at the 90th percentile means someone scores higher than 90% of the people who took the scale.