A Cost Focus Strategy Refers to One of Porter's Generic

question 49

Multiple Choice

A cost focus strategy refers to one of Porter's generic business strategies that

• A)focuses on reducing expenses and,in turn,lowers product prices,while targeting a broad array of market segments.
• B)requires products to have significant points of difference to target one or only a few market segments.
• C)requires products to have significant points of difference to charge a higher price while targeting a broad array of market segments.
• D)involves controlling expenses and,in turn,lowering product prices targeted at a narrow range of market segments.
• E)seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.

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Definitions:

Unbiased Estimator

A statistical estimator that is expected to equal the true parameter of the population being studied.

Consistent Estimator

A statistical property where an estimator of a parameter tends to converge to the true parameter value as the sample size increases.

Variance

A measure of variability that quantifies the spread of a set of data points around the mean.

Confidence Level

The probability or degree of certainty that a confidence interval would contain the true population parameter if the same procedure were repeated multiple times.