Central Tendency Occurs When Managers Lump Everyone Together Around the Average

question 77

True/False

Central tendency occurs when managers lump everyone together around the average, or middle, category.

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Definitions:

Marketplace

A venue where buyers and sellers interact to exchange goods, services, or information.

Generic Competitive Strategies

Broad approaches to competitive advantage that companies can apply across industries, often categorized into cost leadership, differentiation, and focus strategies.

Lowering Costs

Strategies or actions taken to reduce expenses and increase profitability within a business.

Differentiation

The process of distinguishing a product or service from those of competitors in order to appeal to a particular target market.