A company’s competitive strategy a. defines the set of customer needs that it se

Question

A company’s competitive strategy

a. defines the set of customer needs that it seeks to satisfy through its products and services.

b. specifies the portfolio of new products that it will try to develop.

c. specifies how the market will be segmented and how the product will be positioned, priced, and promoted.

d. determines the nature of procurement and transportation of materials as well as manufacture and distribution of the product.

e. determines how it will obtain and maintain the appropriate set of skills and abilities to meet customer needs.

Explanation / Answer

The correct answer is option a.

Competitive strategy is nothing but the strategy that focus on long-term goal to gain competitive advantage over its competitors in the industry. So this is achieved by fulfilling the needs of the customer. High-end competitive strategy is the strategy where the firm focus on creating lot of value and low-end competitive strategy is the strategy where firm focus on offering the product at low price.

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