Asked by jessica tudosa on May 16, 2024
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The greatest disadvantage of using a differentiation strategy is the risk that the organization's underlying market niche may gradually shift toward a broader market.
Differentiation Strategy
A business approach focusing on developing and marketing unique products or services to stand out from competitors and attract customers.
Market Niche
A specific segment of the market that a business targets, often characterized by unique preferences or needs.
Broader Market
Describes the extensive and wider aspects of the market, encompassing a large range of products, services, and customers.
- Acquire an understanding of the concepts and applications of strategic management practices, encompassing focused, differentiation, and low-cost strategies.
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Learning Objectives
- Acquire an understanding of the concepts and applications of strategic management practices, encompassing focused, differentiation, and low-cost strategies.
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