According to Porter, the competitive strategy that reflects the ability of the corporation or its business unit to design, produce, and market a comparable product more efficiently than its competitors is called
A)competitive scope.
B)differentiation.
C)concentration.
D)diversification.
E)lower cost.

Question

Quizplus · Accepted Answer

The competitive strategy that reflects the ability of the corporation or its business unit to design, produce, and market a comparable product more efficiently than its competitors is called lower cost. This strategy focuses on achieving cost leadership in the market by delivering products or services at a lower cost than competitors, while maintaining a similar level of quality. This can create a competitive advantage by enabling the business to offer lower prices, which can attract price-sensitive customers and increase market share.

According to Porter, the Competitive Strategy That Reflects the Ability