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Exam (elaborations)

Bus 200 Midterm (Key Terms) Chapter 2 Questions With Correct Answers

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BUS 200 MIDTERM (KEY TERMS) CHAPTER 2 QUESTIONS WITH CORRECT ANSWERS

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primary activities


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company activities directly related to the creation of a prodcut,
itsmarketing and delivery to buyers, and its after-sales support and service




Differentiation Strategy


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strategy in which a company designs its products to be perceived as
unique by buyers throughout its industry

, core competency


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special ability of a company that competitors find extremely difficult or
impossible to equal




Retrenchment Strategy


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strategy designed to reduce the scale or scope of a corporation's
businesses




growth strategy


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strategy deisgned to increase the scale or scopre of a corporation's
operations




Income Elasticity


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measures how the quantity demanded of a good or service changes in
response to a change in consumers' income. It is calculated as the

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