Michael Porter suggested four basic competitive positioning strategies that companies can follow, three winning strategies and one losing one. Name and describe these four different strategies
What will be an ideal response?
Overall cost leadership is when the company works hard to achieve the lowest production and distribution costs. Differentiation is when the company concentrates on creating a highly differentiated product line and marketing program so that it comes across as the class leader in the industry. Focus is when the company puts its efforts on serving a few market segments well rather than going after the whole market. Middle-of-the-roaders are firms that do not pursue a clear strategy. These firms do the worst.
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Indicate whether the statement is true or false
In order to be valid, a will must generally include all but which one of the following?
a. Signature of the testator. b. A written document. c. Signatures of witnesses. d. Signature of the executor.
The cost of testing incoming materials received from suppliers would be classified as a(n):
A. appraisal cost. B. external failure cost. C. prevention cost. D. internal failure cost.
Implicit communication has been defined as the coordination of all seller-initiated efforts to set up channels of information and persuasion in order to sell goods and services or promote an idea.
Answer the following statement true (T) or false (F)