The objective of a competitive strategy is to
A)establish a competitively powerful value chain.
B)grow revenues at a faster annual rate than rivals are able to grow their revenues.
C)lend greater detail to the company's business model.
D)provide buyers superior value relative to the offerings of rival sellers in order to attain a competitive advantage.
E)get the company into the best strategic group and then dominate it.

Question

Quizplus · Accepted Answer

The main objective of a competitive strategy is to provide buyers with superior value compared to the offerings of rival sellers in order to achieve a competitive advantage. This means that the company's product or service should be more appealing to customers than what their competitors are offering. Establishing a competitively powerful value chain, growing revenues, and being in the best strategic group are all potential outcomes of a successful competitive strategy, but they are not the primary objective. Lending greater detail to the company's business model may be a part of the strategy, but it is not the overall objective.

The Objective of a Competitive Strategy Is to