A company plans to maximize its profits by charging premium prices for superior customer service. This plan represents an example of which of the following aspects of strategy?
A) arenas
B) vehicles
C) economic logic
D) staging

Question

Quizplus · Accepted Answer

The plan to charge premium prices for superior customer service represents economic logic, which is the aspect of strategy that focuses on how a company can create and capture economic value through its business model. This plan is aimed at increasing profits by providing customers with a differentiated service and charging a premium for it. The other aspects of strategy, such as arenas, vehicles, and staging, are focused on defining where a company competes, how it competes, and how it structures its operations, respectively.

A Company Plans to Maximize Its Profits by Charging Premium