Identify the first decision a company has to make as part of its business strategy.
A)Choose a market in which to compete.
B)Choose a competitor to compete with.
C)Decide what unique value to offer to customers.
D)Decide ways to maintain a competitive advantage.

Question

Quizplus · Accepted Answer

Before a company can decide on what unique value to offer to customers or how to maintain a competitive advantage, it needs to first choose a market in which to compete. This sets the foundation for the rest of the business strategy. Once the market is chosen, the company can then focus on differentiating itself from competitors and finding ways to be successful in that specific market.

Identify the First Decision a Company Has to Make as Part