Question

is a business strategy whereby firms attempt to gain a competitive advantage 41) by increasing the perceived value of their products or services relative to the perceived value of other firms' products or services A) Product differentiation B) Related diversification C) Cost leadership D) Best-cost provider 42) By increasing the perceived value of a firm's products or services, a firm will be able to A) charge a lower price than it would otherwise be able to do. B) charge a higher price than it would otherwise be able to do. C) sell its products at lower prices than firms pursuing a cost-leadership strategy. D) gain significantly more market share than firms pursuing a cost-leadership strategy. 43) While firms often alter the product-differentiation strategy, the existence of product differentiation, in the end, is always a matter of A) customer perceptions; objective properties B) objective properties; price C) customer perceptions; price D) objective properties; customer perception of their products or services in order to implement a 44) The most obvious way that firms can try to differentiate their products is by A) making the product more complex B) introducing the product at the right time. C) customizing the product for a particular segment. D) altering the features of the products they sell. 45) Which of the following bases of product differentiation attempts to create the perception that a firm's products or services are unusually valuable by focusing directly on the attributes of the products or services a firm sells? A) Product complexity B) Product customization C) Consumer marketing D) Reputation 46) The ability of companies that produce complex software packages to tailor these packages to the specific needs of their customers is an example of product differentiation through A) complexity. B) consumer marketing. C) product customization. D) timing. 7

can anyone please answer the questions? it's about Management Decisions class. Thank you so much!!

can anyone please answer the questions? it's about Management Decisions class. Thank you so much!!

Answer 1

41) A) Product differentiation

42) B) charge a higher price than it would otherwise be able to do

43) D) objective properties, customer perception

44) D) altering the features of the product they sell

45) A) product complexity

46 C) product customization