When a Small Business Is Faced with Price Competition from a Much

question 130

Multiple Choice

When a small business is faced with price competition from a much larger competitor,it should consider:

• A)going head-to-head on prices by lowering its cost structure.
• B)using non-price competition by offering value added service.
• C)make rapid,continual price changes to keep the competition off balance.
• D)move to a premium price strategy by offering higher scale goods and services.

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Definitions:

Pons

A part of the brainstem that bridges the medulla oblongata and the midbrain, playing a crucial role in many bodily functions, including breathing and sleep.

pH

A scale used to specify how acidic or basic a water-based solution is, where 7 is neutral, lower values are more acidic, and higher values are more alkaline.

Respiratory Rate

The number of breaths taken per minute, a vital sign used to assess overall health and respiratory function.

Carbon Dioxide

A greenhouse gas that is a byproduct of cellular respiration and fossil fuel combustion, contributing to the greenhouse effect and global warming.