Multiple Choice
When a new competitor enters the market, which of the following business strategies would be best for firms already operating in the market?
A) focus differentiation on few products that cater to a specific segment of the market to have a firm grip on that segment
B) produce a single product that can be substituted for other firms' products
C) expand the market size and their base before the newcomer launches business
D) cost minimization to maintain a large online presence and a small physical store
Correct Answer:
Verified
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