Asked by Johana Madrid on Apr 24, 2024
Verified
Businesses pursuing a ___ seek a competitive advantage by directing the organization's resources and attention toward distinguishing its products from those of the competition.
A) differentiation strategy
B) cost leadership strategy
C) focused diversification strategy
D) focused cost leadership strategy
E) emergent strategy
Differentiation Strategy
A competitive approach where a company offers unique products or services recognized as superior by customers, allowing for premium pricing and higher margins.
Competitive Advantage
A condition or circumstance that puts a company in a favorable or superior business position relative to competitors.
- Compare the methods of achieving competitive advantage through cost leadership versus differentiation strategies.
Verified Answer
ZK
Zybrea KnightMay 02, 2024
Final Answer :
A
Explanation :
Businesses pursuing a differentiation strategy direct their attention towards distinguishing their products from those of the competition, which helps to achieve a competitive advantage. This strategy allows businesses to charge higher prices for their unique products and maintain customer loyalty.
Learning Objectives
- Compare the methods of achieving competitive advantage through cost leadership versus differentiation strategies.
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