Which strategy is used to deal with Porter's competitive forces?

Question

Quizplus · Accepted Answer

All of the above strategies - low cost producer, product differentiation, and focus on a niche segment - can be used to deal with Porter's competitive forces. A low cost producer can compete on price, while product differentiation can make a company stand out in a crowded market. Focusing on a niche segment allows a company to avoid competing directly with larger, more established players in the industry. Therefore, using all three strategies can help a company to address all of Porter's competitive forces and gain a competitive advantage.

Which Strategy Is Used to Deal with Porter's Competitive Forces