Broad Differentiation Strategies Generally Work Best in Market Circumstances Where

question 35

Multiple Choice

Broad differentiation strategies generally work best in market circumstances where

• A) buyer needs and preferences are too diverse to be fully satisfied by a standardized product.
• B) most buyers have similar needs and use the product in the same ways.
• C) the products of rivals are weakly differentiated and most competitors are resorting to clever advertising to try to set their product offerings apart.
• D) buyers are price sensitive and buying switching costs are quite low.
• E) the five competitive forces are strong.

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Definitions:

Recall

The retrieval of information in which the processor must generate most of the information without aids. See also recognition.

Grice's Maxim

A set of conversational principles proposed by philosopher H.P. Grice that include quantity, quality, relation, and manner, aiming to make communication effective and cooperative.

Quantity

Specifies the amount or number of a material or immaterial in numerical terms, indicating how much there is of something.

Quality

The standard or degree of excellence of something, often measured against similar things.