A Competitive Strategy to Be the Low-Cost Provider in an Industry

question 25

Multiple Choice

A competitive strategy to be the low-cost provider in an industry typically does not work well when

• A)price competition among rival sellers is especially vigorous.
• B)commodity-based product prevails and minimal differentiation exists.
• C)buyers incur low costs in switching their purchases from one seller or brand to another.
• D)industry newcomers use low introductory prices to attract buyers and build a customer base.
• E)emergent strategies are required to respond to changes in competitor power.

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Definitions:

Victor Frankl

An Austrian neurologist and psychiatrist who founded logotherapy, emphasizing the search for meaning as the central human motivation.

Exaggerate

To make something seem larger, more important, better, or worse than it actually is; often involves amplifying details or aspects of a situation.

Paradoxical Intention

A therapeutic intervention where the client is encouraged to engage in or exaggerate a feared behavior or thought intentionally, to lessen anxiety and undermine the behavior's or thought's power.

Specific Symptom

A particular sign or manifestation of an illness or condition, distinguished from others for diagnostic purposes.