Asked by Shana Llewellyn on Jul 24, 2024
Verified
Which of the following has the strategy "I'm doing something new and you can't catch up"?
A) Cost leader
B) Customer oriented
C) Differentiation
D) Innovation
E) Operational effectiveness
Differentiation
The process of making a product, service, or business model stand out from competitors, often through unique features, quality, or branding.
Innovation
The process of translating an idea or invention into a good or service that creates value or for which customers will pay.
Strategy
A plan of action or policy designed to achieve a major or overall aim, often involving tactics and resource allocation.
- Recognize strategies businesses can employ to gain competitive advantage, including cost leadership, differentiation, and innovation.
Verified Answer
RP
rushil patelJul 27, 2024
Final Answer :
D
Explanation :
Innovation strategy focuses on creating new products or services, making it difficult for competitors to catch up due to the unique and novel aspects of the innovation.
Learning Objectives
- Recognize strategies businesses can employ to gain competitive advantage, including cost leadership, differentiation, and innovation.