Chapter 5

Created by rmccarty7 

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Product Differentiation

business strategy whereby firms attempt to gain a competitive advantage by increasing the perceived value of their products or services relative to the perceived value of other firms' products or services

Reputation

is really no more than a socially complex relationship btw a firm and its customers

Architectural competence

The ability to use organizational structure to facilitate coordination among scientific disciplines to conduct research

Matrix Structure

exists when individuals in a firm have two or more "bosses" simultaneously

Policy of Experimentation

Exists when firms are committed to engage in several related product differentiation efforts simultaneously

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