A company tries to sell superior products that are valued by all consumers and are not offered by any of the competitors. The strategy followed by the company can be said to be based on:
Overall Cost Leadership
Focus
Differentiation
None of these
Answers
Answer:
none of these
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The given question is about Business Studies.
Option iv) None of these is the correct answer
The company practiced a competitive advantage over others by introducing new and in-demand products. Being Dynamic and adapting to changes is the best a company can do in recent times. To remain in the market for the long run and establish its own goodwill "Fist Mover Advantage" is a great strategy.
First Mover Advantage: It means introducing new and dynamic products in the market before your competitors and enjoying the trendsetter position. It is a great way of doing business.
Overall Cost leadership: It is a difficult task but a great strategy to adopt. This refers to producing and selling the products at the cheapest rates. It requires a lot of analysis, cost retention ability, and great financial acumen.
Focus: It refers to focusing on the same product line that the business started with. It is an ongoing process. The focus needs to be strong in order to run a successful business. So it is a way of doing business.
Differentiation: this refers to introducing a wide range of products with a huge variety of features. Being differentiable is a task as it requires great maintenance and up-gradation.
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