Which of the following is NOT a frequently used strategic approach to set a company apart from rivals and achieve a sustainable competitive advantage?
A) striving to be the industry's low-cost provider, thereby aiming for a cost-based competitive advantage
B) outcompeting rivals on the basis of differentiating features such as higher quality, wider product selection, added performance, better service, more attractive styling, technological superiority, or unusually good value for the money
C) simply trying to mimic the successful strategies of rivals
D) focusing on a narrow market niche and winning a competitive edge by doing a better job than rivals of satisfying the needs and tastes of buyers comprising the niche
E) developing a cost advantage based on offering more value for the money

Question

Quizplus · Accepted Answer

Simply trying to mimic the successful strategies of rivals is not a frequently used strategic approach to set a company apart from rivals and achieve a sustainable competitive advantage. This approach does not allow a company to differentiate itself from its competitors and may not lead to long-term success. The other options, including striving to be the industry's low-cost provider, outcompeting rivals on the basis of differentiating features, focusing on a narrow market niche, and developing a cost advantage based on offering more value for the money, are all frequently used strategic approaches that can help a company achieve a sustainable competitive advantage.

Which of the Following Is NOT a Frequently Used Strategic