A(n) _______________ strategy is a competitive strategy by which a firm develops ways to differentiate its products and services from those of its competitors.
A) low cost leadership
B) innovation
C) differentiation
D) growth

Question

Quizplus · Accepted Answer

A differentiation strategy involves developing unique products or services that set a company apart from its competitors. This can be achieved through innovation or other means, but the focus is on offering something that is perceived as unique or valuable to customers. A low cost leadership strategy, on the other hand, involves competing on price by finding ways to reduce costs and offer products at a lower price than competitors. A growth strategy focuses on expanding a company's sales or market share through various means, such as entering new markets or acquiring other companies.

A(n) _______________ Strategy Is a Competitive Strategy by Which a Firm