The Key to a Successful Differentiation Strategy Is to Build

question 111

True/False

The key to a successful differentiation strategy is to build it on a core competency, something the company is uniquely good at doing in comparison to its competitors.

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Definitions:

Reciprocity

A social norm of responding to a positive action with another positive action, fostering mutual goodwill in transactions.

Free Market

An economic system where prices for goods and services are determined by the open market and consumers, wherein the laws and forces of supply and demand are free from any intervention by a government, price-setting monopoly, or other authority.

Buying Function

The process within a company or organization responsible for purchasing goods, services, or materials, often for resale or operational use.

Procurement Sources

Suppliers or vendors from which businesses obtain goods and services needed for their operations.