Which of the following is an example of a competitive strategy employed by a firm?
A) increasing the price of its product when raw material prices increase
B) laying off staff in order to cut down costs during a recession period
C) advertising its products nationwide like its competitor organizations
D) launching a unique product targeted at a section of consumers

Question

Quizplus · Accepted Answer

Launching a unique product targeted at a section of consumers is an example of a competitive strategy because it differentiates the firm's product from its competitors and targets a specific market segment. Increasing prices and laying off staff are cost-saving measures and advertising nationwide is a marketing tactic, not necessarily a competitive strategy.

Which of the Following Is an Example of a Competitive