Broad Differentiation Strategies Are Well-Suited for Market Circumstances Where

question 16

Multiple Choice

Broad differentiation strategies are well-suited for market circumstances where

• A) there are many ways to differentiate the product or service and many buyers perceive these differences as having value.
• B) most buyers have the same needs and use the product in the same ways.
• C) buyers are susceptible to clever advertising.
• D) barriers to entry are high and suppliers have a low degree of bargaining power.
• E) price competition is especially vigorous.

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Definitions:

Conservative Goals

Objectives or aims that seek to preserve traditional institutions, values, and practices, emphasizing stability, and continuity, and often resistant to rapid change or innovation.

Concert of Europe

An informal agreement between major European powers in the 19th century aimed at preserving the balance of power and preventing the outbreak of major wars through diplomacy.

Rotten Borough

A Rotten Borough was a term used in England to describe a parliamentary constituency with very few voters, often controlled by a single person or family, leading to unrepresentative and corrupt electoral outcomes.

Dunwich

A village in Suffolk, England, known historically as a major port in the Middle Ages before coastal erosion reduced its size and importance.