An organization’s ability to offer market offerings at lower prices, in comparison with its competitors is known as __________?

Related Mcqs:

1. An ability of an organization, to offer its services or products that must be perceived by customers as unique and superior, in comparison to its competitors is called __________?

   A. inelastic demand
   B. product differentiation
   C. cost leadership
   D. elastic demand

2. When prices fall, the decrease in demand for the product when the competitors’ prices are not met will be called ___________?

   A. downward supply spiral
   B. upward supply spiral
   C. downward demand spiral
   D. upward demand spiral

3. The lower plant leasing, lower administrative costs, lower depreciation on equipment and plant are all the factors of _____________?

   A. favorable price variance
   B. unfavorable price variance
   C. favorable spending variance
   D. unfavorable spending variance

4. The process which leads to disassembling and analysis of competitors, operating activities to become acquainted with competitors’ technologies is called ___________?

   A. outsource engineering
   B. reverse engineering
   C. target engineering
   D. off shore engineering

5. The focus on budget cost of all the activities necessary to sell and produce market offerings is known as _________?

   A. cost based budgeting
   B. activity based budgeting
   C. production based budgeting
   D. raw material budgeting

6. The companies that perform in less competitive markets and their market offerings significantly differ are classified as ___________?

   A. independent revenue approach
   B. market based approach
   C. cost based approach
   D. dependent revenue approach

7. The formal information systems, used in organizations to focus company’s learning and attention, given to the most important strategic issues are known as ____________?

   A. interactive control system
   B. belief systems
   C. boundary systems
   D. diagnostic control systems

8. In response to challenges arisen by competitors and new entrants, the strategy which must be considered by the company does include __________?

   A. cost leadership
   B. demand inelasticity
   C. differentiated products
   D. both A and C

9. The practice by seller, about offering same product at different prices, to the different customers is known as __________?

   A. price incurrence
   B. price discrimination
   C. price targeting
   D. price engineering

10. A product performance in comparison to its features and design is classified as ___________?

    A. learning quality
    B. design quality
    C. conformance quality
    D. business process quality