If WRSX, or one of its competitors, decided to try to increase market share by offering higher quality services whilst simultaneously seeking ways of lowering costs in order to lower prices, this is an example of which kind of competitive strategy according to the 'Strategy Clock'?
A) Differentiation strategy.
B) Non competitive strategy.
C) Low price strategy.
D) Hybrid strategy.

Question

Quizplus · Accepted Answer

The 'Strategy Clock' model, developed by Cliff Bowman and David Faulkner, outlines various competitive strategies based on different combinations of price and perceived value. A hybrid strategy, as described in the scenario, involves offering higher quality (increased perceived value) while also lowering costs to reduce prices. This approach aims to combine aspects of both differentiation (through higher quality) and cost leadership (through lower prices), making it a hybrid strategy.

If WRSX, or One of Its Competitors, Decided to Try