Answer:
Employee Exchange Strategy
Explanation:
According to my research on different business strategies used by companies, I can say that based on the information provided within the question this is an example of the Employee Exchange Strategy. This strategy is when employees are exchanged between companies or departments, usually during seasonal ups and downs. This is done to either avoid contractual conflicts or to avoid layoffs during off seasons.
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Answer:
e. has all of these characteristics.
Explanation:
A generic market has the characteristic of fulfilling similar needs in number of manners for the customers.
In this manner the ultimate goal of different customers, which is same is achieved by this market.
As for example in the season of winters, the ultimate goal is to feel warm,
For this, some producers or sellers offer, hot cup of coffee, or soup, and some might offer air warmers for the house, some might offer to buy jackets!
Ultimately there are different customers with common goal, but different needs, and different suppliers fulfilling common needs.
Thus, all of the above statements are true about generic market.
Answer:
b. False
Explanation:
In a competitive environment, pricing strategy is one of the strategies to ensure efficiency and profitability. But lowering of prices at the expense of deterioration in the quality of product offerings cannot be a recommended strategy.
The four competitive strategies specified by Michael Porter are namely, Cost Leadership, Differentiation, Cost Focus and Differentiation focus.
Under Cost leadership, a firm strives to offer it's products at the lowest cost and be the cost leader in an industry.
Differentiation refers to adding unique attributes and values to the products which differentiates such products from those of the competitors.
Cost focus refers to cost leadership when targeted at a particular marketing segment and similarly, differentiation focus is differentiation when applied to a specific marketing segment.
A firm cannot focus at price at the expense of quality of it's offerings. Thus, keeping prices down isn't all which matters.
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