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Select the most appropriate definition of differentiation in relation to strategy. Select one: a. A strategy that seeks to mimic or copy other products/services and sell them at a lower cost than competitors. O b. A strategy that seeks to mimic or copy other products/services and sell them at a higher cost than competitors. O c. A strategy that seeks to provide a unique or significantly dissimilar product/service than competitors at the lowest market cost. d. A strategy that seeks to create products/services that are unique or significantly dissimilar to competitors, so they are highly desirable to customers.

Select the most appropriate definition of differentiation in relation to strategy. Select one: a. A strategy that seeks to mimic or copy other products/services and sell them at a lower cost than competitors. O b. A strategy that seeks to mimic or copy other products/services and sell them at a higher cost than competitors. O c. A strategy that seeks to provide a unique or significantly dissimilar product/service than competitors at the lowest market cost. d. A strategy that seeks to create products/services that are unique or significantly dissimilar to competitors, so they are highly desirable to customers.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Select the most appropriate definition of differentiation in relation to strategy. Select one: a. A strategy that seeks to mimic or copy other products/services and sell them at a lower cost than competitors. O b. A strategy that seeks to mimic or copy other products/services and sell them at a higher cost than competitors. O c. A strategy that seeks to provide a unique or significantly dissimilar product/service than competitors at the lowest market cost. Od. A strategy that seeks to create products/services that are unique or significantly dissimilar to competitors, so they are highly desirable to customers.
Transcribed Image Text:Select the most appropriate definition of differentiation in relation to strategy. Select one: a. A strategy that seeks to mimic or copy other products/services and sell them at a lower cost than competitors. O b. A strategy that seeks to mimic or copy other products/services and sell them at a higher cost than competitors. O c. A strategy that seeks to provide a unique or significantly dissimilar product/service than competitors at the lowest market cost. Od. A strategy that seeks to create products/services that are unique or significantly dissimilar to competitors, so they are highly desirable to customers.
What might the common risks associated with cost leadership strategies be? Select one or more: a. A company's cost advantages can be adopted or copied by competitors b. Investing in production technology to lower overall production costs could lead to a large short- term increase in overall costs c. Reducing staff costs can lead to a de-motivated workforce susceptible to being recruited by rivals d. As a business grows it can increase in complexity which could be associated with higher costs
Transcribed Image Text:What might the common risks associated with cost leadership strategies be? Select one or more: a. A company's cost advantages can be adopted or copied by competitors b. Investing in production technology to lower overall production costs could lead to a large short- term increase in overall costs c. Reducing staff costs can lead to a de-motivated workforce susceptible to being recruited by rivals d. As a business grows it can increase in complexity which could be associated with higher costs
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