The four basic strategies a company can employ to deal with competitive forces are:
A)(1)increase process efficiency,(2)implement demand control,(3)focus on market niche,and (4)low-cost leadership.
B)(1)strengthen customer and supplier intimacy,(2)focus on market niche,(3)product differentiation,and (4)implement demand control.
C)(1)focus on market niche,(2)product differentiation,(3)mass customization,and (4)implement demand control.
D)(1)strengthen customer and supplier intimacy,(2)focus on market niche,(3)product differentiation,and (4)low-cost leadership.

Question

Quizplus · Accepted Answer

The four strategies mentioned in option D - strengthening customer and supplier intimacy, focusing on market niche, product differentiation, and low-cost leadership - are the most effective ways to deal with competitive forces. Strengthening customer and supplier intimacy helps in building strong relationships with both parties, which can lead to better business outcomes. Focusing on a market niche helps in catering to a specific segment of customers with tailored products and services. Product differentiation helps in creating unique and valuable products that stand out in the market. Finally, low-cost leadership helps companies to offer products and services at lower prices than their competitors, which can be a significant advantage in highly competitive industries.

The Four Basic Strategies a Company Can Employ to Deal