Question 1
What is the term for an organization's ability to achieve lower costs relative to competitors through productivity and efficiency improvements, elimination of waste, and tight cost control?
◦ Marketing strategy
◦ Product differentiation
◦ Cost leadership
◦ Competitor differentiation
Question 2
What is the term that describes an organization's ability to offer products or services that are perceived by its customers as being superior and unique relative to those of its competitors?
◦ Strategy
◦ Product differentiation
◦ Cost leadership
◦ The balanced scorecard