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The ____________________ of a Firm Implementing a Differentiation Strategy Must

question 125

Short Answer

The ____________________ of a firm implementing a differentiation strategy must also emphasize creativity,innovation,and response to customer needs


Definitions:

Club Goods

Goods that are excludable but not rival in consumption

Private Goods

Products or services that are consumed by one individual and cannot be used simultaneously by others.

Rival in Consumption

A characteristic of a good whereby its consumption by one individual prevents simultaneous consumption by another individual.

Excludable

A characteristic of a good or service whereby it is possible to prevent non-paying customers from having access to it.

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