Mike Opens a New Gym in His Hometown

question 27

Multiple Choice

Mike opens a new gym in his hometown. He charges lower membership and monthly fees than what is offered by the other four gyms in town. This results in the migration of customers from the other gyms to Mike's gym. This enables the company to attract a lot of customers. This is an example of a(n) _____ strategy.

• A) cost leadership
• B) adaptive
• C) differentiation
• D) focused differentiation
• E) pull

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Definitions:

Alkene

A hydrocarbon that contains at least one carbon-carbon double bond in its structure.

OsO4

Osmium tetroxide, a compound used in organic chemistry to add oxygen atoms to double bonds in alkenes.

Periodic Acid

A powerful oxidizing agent, represented chemically as HIO4, known for cleaving vicinal diols and forming aldehydes or ketones.

Organic Product

A compound that results from the organic chemical reaction, often characterized by its complex carbon-based molecular structure.