Which of the following statements about competitive priorities is TRUE?
◦ Club Med competes on the dimension of high-performance design in part by offering excellent entertaining, dining, and recreational facilities.
◦ Firms emphasizing low price have slack capacity and hold large inventories in order to be efficient.
◦ A good delivery time is less than a few weeks, irrespective of the industry under consideration.
◦ To survive, all firms in an industry must compete on the same dimensions of competitive priority.