An Effective Strategic Plan Does Which of the Following

question 13

Multiple Choice

An effective strategic plan does which of the following?

• A)Identifies a complete set of success factors-financial,operating,and marketing,that yield a competitive advantage for the company
• B)Focuses on one generic strategy to the exclusion of all other strategies
• C)Always seeks a high profile in the specific markets chosen
• D)Is always cost based

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Definitions:

Diminishing Marginal Utility

Diminishing marginal utility is an economic principle stating that as a person consumes more of a good or service, the satisfaction (utility) gained from each additional unit decreases.

Satisfaction

The feeling of pleasure or contentment arising from meeting one's needs, desires, or expectations.

Utility

A measure of satisfaction or benefit that a consumer receives from consuming goods and services.

Consumer Derives

The satisfaction or utility that a consumer obtains from the consumption of goods and services.