Which of the following is a frequently used strategic approach to setting a company apart from rivals and achieving a sustainable competitive advantage?
A) Striving to be the industry's low-cost provider,thereby aiming for a product-based competitive advantage.
B) Outcompeting rivals on the basis of such differentiating features as same quality,narrower product selection,or same value for the money.
C) Developing a best-cost provider strategy that gives the company competitive capabilities so that rivals can easily imitate with capabilities of their own to even the playing field.
D) Focusing on a narrow market niche and winning a competitive edge by doing a better job than rivals of serving the special needs and tastes of buyers comprising the niche.
E) All of these.

Question

Quizplus · Accepted Answer

Focusing on a narrow market niche and winning a competitive edge by doing a better job than rivals of serving the special needs and tastes of buyers comprising the niche is a frequently used strategic approach to setting a company apart from rivals and achieving a sustainable competitive advantage. The other options are also valid strategic approaches, but D is the best choice as it specifically mentions serving the special needs and tastes of buyers in a niche market, which is a highly effective tactic for achieving a sustainable competitive advantage.

Which of the Following Is a Frequently Used Strategic Approach