If a Company Wishes to Be a Price-Taker, Which of the Following

question 153

Multiple Choice

If a company wishes to be a price-taker, which of the following strategies should they take?

• A)enter a competitive market and focus on cost cutting
• B)produce a unique product
• C)exploit the value of a fashionable brand name
• D)differentiate the product clearly from the competitors

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Definitions:

Casual Fridays

An office dress code policy allowing employees to wear more casual attire on Fridays compared to the rest of the week.

Firm's

Relating to a business or company, often used in the context of its operations, assets, liabilities, or ownership.

Buying Center

A group of individuals within an organization who are involved in the decision-making process of purchasing products or services.

Purchase Decision

The stage in the buying process where the consumer chooses to buy a particular product or service after evaluating all the options.