A Strategic Groups Consists Of

question 63

Multiple Choice

A strategic groups consists of:

• A)Firms that follow the same generic strategies (e.g.cost leadership or differentiation)
• B)Firms within an industry that have similar strategies
• C)Firms that occupy the same industry segment
• D)Firms that target the same customer groups

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Definitions:

Total Revenue

The total income generated by a company from its business activities before any expenses are subtracted.

Recession

A period of significant economic decline spread across the economy lasting more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Variable Costs

Costs that change in proportion to the level of goods or services that a business produces.

Total Cost

The complete amount of money spent or investment made in acquiring an asset, including all associated expenses and fees.