Generic strategies
A)Occur when a company can outmatch its rivals in attracting and maintaining its customers.
B)Represent basic ways that domestic and multinational companies keep and achieve competitive advantage.
C)Are all based on finding ways to provide superior value to the customer.
D)None of the above

Question

Quizplus · Accepted Answer

Generic strategies are basic ways in which domestic and multinational companies keep and achieve competitive advantage. These strategies include cost leadership, differentiation, and focus. They are not solely focused on providing superior value to the customer, as cost leadership primarily focuses on minimizing costs while maintaining quality, and focus targets a specific customer segment. While attracting and maintaining customers is an important component, it is not the sole focus of generic strategies.

Generic Strategies