A business that selects a differentiation strategy ________
A) adds cost to an activity, provided it has a positive margin
B) provides essential functions at lowest costs
C) imitates rival companies' strategy and products
D) always tries to price its products' higher than its competitors' products
A
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Over the past 100 years or so, Binney and Smith's Crayola crayons have become a household staple in more than 80 countries around the world. The company occasionally tinkers with the product's marketing mix to maintain market share. Crayola crayons are in the ________ stage of the product life cycle.
A) growth B) extension C) development D) maturity E) decline
Managers often think they can know and predict everything regarding a problem, even when a situation has a completely unpredictable outcome. This, after the fact, "I knew it all along" belief fallacy is known as:
a. the hindsight bias. b. an inert knowledge problem. c. interdependence. d. the social system context.