Market leaders are constantly under attack from large and small competitors alike. What is the most constructive response a market leader can make when defending its terrain?
A) continuous innovation
B) meet all challengers with a swift response
C) basic cost control
D) expanding expected benefits
E) expanding desired benefits

Question

Quizplus · Accepted Answer

Continuous innovation is the most constructive response a market leader can make when defending its terrain. It allows the company to stay ahead of the competition and keep improving its products or services. Meeting challengers with a swift response may be important, but it should be done in a way that enhances the company's overall strategy, which can be achieved through continuous innovation. Basic cost control is necessary, but not sufficient, as it may lead to sacrificing quality or innovation. Expanding expected benefits and desired benefits are both important, but they are outcomes of continuous innovation rather than strategies in themselves.

Market Leaders Are Constantly Under Attack from Large and Small