Small Businesses Can Compete with Larger Rivals with Bigger Budgets

question 76

Multiple Choice

Small businesses can compete with larger rivals with bigger budgets by employing unconventional,low-cost creative techniques known as:

• A)market research.
• B)astonishing customer service.
• C)guerrilla marketing techniques.
• D)psychographics.

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Definitions:

Traditional Way

Established methods or practices that have been passed down over time, often contrasted with more modern or innovative approaches.

Lewin's Model

A three-stage theory of change describing how to initiate, manage, and stabilize the process: unfreezing, changing, and refreezing.

Planned Change

A deliberate effort to improve an organization’s operations or direction through specific interventions, strategies, and processes.

Unfreezing

The phase of Lewin’s planned change process during which a situation is prepared for change.