________ are the two basic strategies for creating value and attaining a competitive advantage in an industry.
A)Diversification and niche marketing
B)Industry leadership and market dominance
C)Customer satisfaction and product innovation
D)Cost leadership and differentiation

Question

Quizplus · Accepted Answer

The two basic strategies for creating value and attaining a competitive advantage in an industry are cost leadership and differentiation. Cost leadership involves producing goods or services at the lowest possible cost, thus offering the best price in the industry. Differentiation involves the creation of unique products or services that are valued by customers and cannot be easily replicated by competitors. By adopting one or both of these strategies, companies can stand out in the marketplace and gain a competitive advantage.

________ Are the Two Basic Strategies for Creating Value and Attaining