Which of the following is the critical determinant of success in mature markets?

Question

Quizplus · Accepted Answer

In mature markets, where there is already a lot of competition, continuous functioning of the business to improve the value of its offerings is critical. This means that the business must focus on enhancing the quality of its existing products or services, introducing new features or functions, and maintaining its competitive edge in terms of pricing or customer service. Choosing between a differentiation and low-cost strategy, increasing volume, and new product successes are all important factors, but they are not the critical determinant of success in mature markets.

Which of the Following Is the Critical Determinant of Success