Exam (elaborations)
Peregrine Exam Day 5 Questions And Answers With Verified Solutions Already Passed!!!
- Course
- Institution
Peregrine Exam Day 5 Questions And Answers With Verified Solutions Already Passed!!!
[Show more]
Content preview
Peregrine Exam Day 5 Questions AndAnswers With Verified Solutions Already
Passed!!!
cost control - ANSWER✔✔ A business's efforts to manage how much it spends.
Cost control is always important - ANSWER✔✔ factor in maintaining and growing
profitability
Outsourcing is a common method to control costs - ANSWER✔✔ because many
businesses find it cheaper to pay a third part to perform a task than to take on the
work within a company.
product differentiation - ANSWER✔✔ a positioning strategy that some firms use
to distinguish their products from those of competitors
Product differentiation focuses on the consumers' attention on one or more -
ANSWER✔✔ key benefits of a brand that makes it better than other choices
Differentiation may be - ANSWER✔✔ reflected in the name, packaging, and
promotion of a product
A product differentiation strategy should - ANSWER✔✔ demonstrate that a
product can do everything the competing choices can but has additional benefits
no one else offers.
, Types of product differentitation - ANSWER✔✔ price, performance and reliability,
location and service
Price - ANSWER✔✔ Companies can charge the lowest price to attract buyers that
are cost-conscious. Companies can also charge higher prices to show that it's a
luxury product
Performance and reliability - ANSWER✔✔ products that are considered reliable
and offer long term value are often touted as better than competition.
Location and service - ANSWER✔✔ It's common for local companies to advertise
that they are local. It's a way for companies to showcase their high quality service
Customer Analysis - ANSWER✔✔ The part of a business plan that discusses sales
forecasts and the location and number of potential patrons.
multimarket competition - ANSWER✔✔ occurs when firms compete against each
other in several product or geographic markets
competitive advantage - ANSWER✔✔ a set of unique features of a company and
its products that are perceived by the target market as significant and superior to
those of the competition
Competitive advantages can be - ANSWER✔✔ broken down into comparative
advantages and differential advantages
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller classhub. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78600 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now