Turner Electronics is a ten-year-old company. In the past decade, the company hasn't created any innovative products that have helped set it apart from the rest of its competitors
However, when any of its products need to be repaired or fine-tuned, it offers its customers top-notch product checks. As a result, the company has managed to retain its wide customer base. Which of the following strategies is Turner Electronics using in this scenario?
a. Product development
b. Diversification
c. Market penetration
d. Service differentiation
ANSWER: d
A product/service differentiation competitive advantage exists when a firm provides something that is unique and valuable to buyers beyond simply offering a lower price than that of the competition.
You might also like to view...
An offer lapses upon the following except:
A) Detrimental reliance. B) Counteroffer. C) Expiration of reasonable time. D) Rejection.
Elaine Matuszek, the sole stockholder of Matuszek Consulting, started the business by investing $46,000 cash. Identify the general journal entry below that Matuszek Consulting will make to record the transaction.
A.
| Common Stock | 46,000? | |
| Cash | 46,000? |
B.
| Cash | 46,000? | |
| Common Stock | 46,000? |
C.
| Cash | 46,000? | |
| Increased Equity | 46,000? |
D.
| Investments | 46,000? | |
| Common Stock | 46,000? |
E.
| Investments | 46,000? | |
| Cash | 46,000? |
Employers and unions are required to negotiate in good faith
Indicate whether the statement is true or false
Suppose annual inflation rates in the U.S. and Mexico are expected to be 6% and 80%, respectively, over the next several years. If the current spot rate for the Mexican peso is $.005, then the best estimate of the peso's spot value in 3 years is ________
A) $.00276 B) $.01190 C) $.00321 D) $.00102