Which strategy for competitive advantage involves introducing new products and putting new features in existing products?
A) cost leadership
B) differentiation
C) innovation
D) operational effectiveness
E) customer-orientation

Question

Quizplus · Accepted Answer

Innovation involves introducing new products or new features in existing products in order to gain a competitive advantage. The other options listed do not necessarily involve introducing new products or features. Cost leadership focuses on reducing costs to provide products at lower prices. Differentiation focuses on creating unique products or services. Operational effectiveness involves performing business operations better than competitors. Customer-orientation involves focusing on customer needs and preferences.

Which Strategy for Competitive Advantage Involves Introducing New Products and Putting