What does it mean when firms create new market space?
A) Firms begin to vertically integrate by acquiring their competitors,thus freeing up market space.
B) Firms start looking across substitute industries or to complementary product and service offerings that go beyond what an industry has traditionally offered.
C) Firms outsource their operations to low-cost labour locations in order to cut costs.
D) Firms pursue a defender strategy by establishing strategic alliances with competitor firms in order to secure new market space.
Correct Answer:
Verified
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