The four major types of competitive strategy are
A) low-cost leadership; substitute products and services; customers; and suppliers.
B) low-cost leadership; product differentiation; focus on market niche; and customer and supplier intimacy.
C) new market entrants; substitute products and services; customers; and suppliers.
D) low-cost leadership; new market entrants; product differentiation; and focus on market niche.

Question

Quizplus · Accepted Answer

The four major types of competitive strategy are low-cost leadership, product differentiation, focus on market niche, and customer and supplier intimacy. Option B correctly identifies all four types of strategy. Option A is incorrect because it includes "substitute products and services" as a strategy, which is actually a threat to the company's competitive position. Option C is incorrect because it includes "new market entrants" as a strategy, which refers to external factors rather than the company's own competitive strategy. Option D is incorrect because it does not include "customer and supplier intimacy" as a strategy, which is an important aspect of building long-term competitive advantage.

The Four Major Types of Competitive Strategy Are