The four major competitive strategies are:
A)low-cost leadership,substitute products and services,customers; and suppliers.
B)low-cost leadership,product differentiation,focus on market niche,and customer and supplier intimacy.
C)new market entrants,substitute products and services,customers,and suppliers.
D)low-cost leadership,new market entrants,product differentiation,and focus on market niche.
E)customers,suppliers,new market entrants,and substitute products.

Question

Quizplus · Accepted Answer

The four major competitive strategies are low-cost leadership, product differentiation, focus on market niche, and customer and supplier intimacy. These strategies are the most commonly used ways for companies to compete in the market. Option B correctly lists all four strategies. Option A is incorrect because it lists customers and suppliers as strategies instead of focusing on how to build strong relationships with them. Option C and E are incorrect because they miss important strategies and focus on different factors like new market entrants and substitute products. Option D is incorrect because it only lists three out of the four major strategies.

The Four Major Competitive Strategies Are