Which of the following is an example of a competitive strategy employed by a firm?
A)increasing the price of its product when raw material prices increase
B)launching a unique product targeted at a section of consumers
C)laying off staff in order to cut down costs during a recession period
D)advertising its products nationwide like its competitor organisations

Question

Quizplus · Accepted Answer

Launching a unique product targeted at a section of consumers is an example of a competitive strategy as it allows the firm to differentiate itself from its competitors and attract a specific customer base. The other options are not necessarily competitive strategies as they are focused on cost-cutting or mimicking what competitors are doing.

Which of the Following Is an Example of a Competitive