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5 terms

Chapter 5

STUDY
PLAY
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