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social science subjects > business and management > entrepreneurship > competition (business) > customer responsiveness
... > social science subjects > economics > economic systems > market economy > market forces > competition (business) > customer responsiveness
... > social science subjects > politics and international relations > political science > comparative politics > economic systems > market economy > market forces > competition (business) > customer responsiveness
... > social science subjects > economics > economic concepts > political economy > market economy > market forces > competition (business) > customer responsiveness
... > social science subjects > politics and international relations > political science > political economy > market economy > market forces > competition (business) > customer responsiveness
... > social science subjects > business and management > organization studies > organization studies encyc > approaches to organization theory > organizational economics > competition (business) > customer responsiveness
... > social science subjects > business and management > organization studies > organization studies encyc > organizational economics > competition (business) > customer responsiveness

Preferred term

customer responsiveness  

Definition

  • Organizations compete in their markets basically in two ways: By offering products and services at lower prices than competitors do and by offering better products and services than competitors do. In the first case, an organization relies on cost leadership business strategy and in the second case on differentiation business strategy. [Source: Encyclopedia of Business in Today's World; Customer Responsiveness]

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https://concepts.sagepub.com/social-science/concept/customer_responsiveness

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