An automobile manufacturing firm has dominated its market by consistently releasing automobile upgrades and enhancements. Which of the following is being exemplified in this case?
A)Implementing a tit-for-tat strategy
B)Limiting competitive access to scarce resources
C)Introducing new products frequently
D)Representing the Nash equilibrium

Question

Quizplus · Accepted Answer

The firm is exemplifying the strategy of introducing new products frequently, which helps it stay ahead of the competition and dominate the market. This is also known as product differentiation. The other options do not apply to this case - implementing a tit-for-tat strategy refers to a specific type of retaliation in a competitive game, limiting competitive access to scarce resources refers to controlling access to important resources, and representing the Nash equilibrium refers to a concept in game theory where no player can improve their outcome by changing their strategy.

An Automobile Manufacturing Firm Has Dominated Its Market by Consistently