Which of the Following Statements Best Describes the Relationship Between

question 78

Multiple Choice

Which of the following statements best describes the relationship between quality management and product strategy?

• A) Product strategy is set by top management; quality management is an independent activity.
• B) Quality management is important to the low-cost product strategy, but not to the response or differentiation strategies.
• C) High quality is important to all three strategies, but it is not a critical success factor.
• D) Managing quality helps build successful product strategies.
• E) Companies with the highest measures of quality are no more productive than other firms.

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Definitions:

Determinant

A factor or condition that decisively affects the nature or outcome of something, often used in economics to discuss variables impacting demand, supply, or price.

Inputs

Resources used in the production process, including labor, capital, and materials.

Related Goods

Goods that are connected in some way, often through being complements or substitutes, affecting each other's demand and supply.

Consumer Income

The total amount of income received by consumers, including wages, salaries, benefits, and income from investments, which can influence spending patterns.