Product Differentiation

question 12

Short Answer

Product Differentiation. Suggest whether each of the following statements is true or false and illustrate why.
A. Sources of product differentiation include only physical differences, not merely perceived differences.
B. Price competition tends to be most vigorous for products with many actual or perceived differences.
C. The availability of good substitutes decreases the degree of competition.
D. Competition tends to be less vigorous when buyers and sellers have easy access to detailed price/product performance information.
E. The availability of good complements increases the degree of competition.

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Definitions:

Shared Power Strategy

An approach to leadership and decision-making that involves distributing power and authority within a group or organization, fostering collaboration and empowerment.

Force-Coercion Strategy

A method of implementing change or achieving objectives by using authority, power, or threats.

Facilitation-Support Strategy

A facilitation-support strategy involves an organization taking proactive steps to support and facilitate the needs and goals of its stakeholders, fostering a positive relationship and enhancing mutual benefits.

Lewin's Planned Organisational Change Model

A framework proposed by Kurt Lewin that outlines change as a three-step process: unfreezing, changing, and refreezing, to facilitate successful organizational change.