Four generic strategies are

Question

Quizplus · Accepted Answer

The correct answer is B as it includes the four common generic strategies recognized in business literature – cost leadership, differentiation, focus-cost leadership, and focus-differentiation. These strategies are useful for companies to position themselves in the market, compete effectively, and achieve long-term success. Option A is incorrect as appropriate technology and niche are not generic strategies but rather tactics that can be employed to achieve a strategy. Option C is incorrect as the lowest price and low technology are not generic strategies, and focus and diversification can be components of certain generic strategies, but are not strategies in themselves. Option D is incorrect as concentric diversification and product line are not generic strategies, and high technology may not always be required for achieving a competitive advantage. Option E is incorrect as automation is not a generic strategy, and diversification and niche market are part of the generic strategies listed in option B.

Four Generic Strategies Are