Which of the Following Strategies Should a Company Take If

question 21

Multiple Choice

Which of the following strategies should a company take if it wishes to be a price-setter?

• A)produce a generic mass-market product
• B)enter a competitive market and boost profits by cost cutting
• C)produce a unique product
• D)produce a commodity and outsource the manufacturing operations

---

Definitions:

Manufacturing Industry

An economic sector concerned with the production of goods using labor, machines, and chemical or biological processing or formulation.

Underemployed

The condition of working in a job that does not fully utilize one's skills, education, or work capacity, often resulting in diminished income and job satisfaction.

Poverty Line

An officially defined threshold of income that separates individuals or families who are considered to be living in poverty from those who are not, often adjusted for family size and composition.

Cost of Living

The sum of money required to maintain a specific standard of living, covering essential costs like shelter, nourishment, taxes, and medical care.