Color Cosmetics, whose target market comprises only female customers, has now introduced a new range of products for the male population. It came up with new strategies and advertisements to reach the new target market. It did so to maintain a competitive advantage in the industry. Which of the following strategies did the company apply to compete more effectively?
A) Globalization
B) Environmental scanning
C) Organizational change
D) Strategic review process

Question

Quizplus · Accepted Answer

The company applied organizational change by introducing a new range of products for the male population. This shows a shift in the company's target market and the need to adapt its organizational structure and processes to cater to the new market. This strategy will help the company to maintain a competitive advantage in the industry. The other options, globalization, environmental scanning, and strategic review process, may also be important strategies for the company, but they do not directly address the company's shift in target market.

Color Cosmetics, Whose Target Market Comprises Only Female Customers, Has