Which of the following is a frequently used strategic approach to setting a company apart from rivals and achieving a sustainable competitive advantage?
A) Striving to be the industry's low-cost provider,thereby aiming for a cost-based competitive advantage.
B) Outcompeting rivals on the basis of such differentiating features as higher quality,wider product selection,added performance,better service,more attractive styling,or technological superiority.
C) Developing competitively valuable resources and capabilities that rivals can't easily match,copy,or trump with capabilities of their own.
D) Focusing on a narrow market niche and winning a competitive edge by doing a better job than rivals of serving the special needs and tastes of buyers comprising the niche.
E) All of these.

Question

Quizplus · Accepted Answer

The strategic approach to setting a company apart from rivals and achieving a sustainable competitive advantage can involve a combination of these different methods. A company may strive to be the industry's low-cost provider and also differentiate itself from competitors through higher quality, better service, or other unique capabilities. Developing competitively valuable resources and capabilities that rivals can't easily match can also be a key part of a company's strategy. Focusing on a narrow market niche can also be an effective way to differentiate a company from its rivals and achieve a competitive edge. Therefore, all of these strategic approaches can be used to set a company apart from its rivals and achieve a sustainable competitive advantage.

Which of the Following Is a Frequently Used Strategic Approach