Competitive priorities define the dimensions on which the firm should excel with its products or services. Which one of the following statements regarding this concept is TRUE?

All dimensions of competitive priorities should be equally emphasized in order to service the increasingly competitive market of the $1990$ s$.$

Often there are trade$-$offs among competitive priorities.

McDonald's restaurants emphasize high$-$performance design quality rather than consistent quality.

The strategy of emphasizing lower price is most appropriate when the product is highly differentiated.