Asked by Ailsa Hansen on Jun 15, 2024
Verified
Which of the following strategies is (are) designed to target industry wide markets?
A) low-cost
B) differentiation
C) both of these target industry wide markets
D) neither of these target industry wide markets
Industry Wide Markets
Markets that span across an entire industry, affecting all organizations within that industry.
Low-Cost
Describes products or services offered at a price lower than the market average to attract cost-sensitive consumers.
Differentiation
Relates to distinguishing or creating differences between products, services, or organizational entities to create a competitive advantage.
- Gain insight into the basic strategies for business: cost minimization, differentiation, and targeted approach.
Verified Answer
Learning Objectives
- Gain insight into the basic strategies for business: cost minimization, differentiation, and targeted approach.
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