Although there are many routes to competitive advantage,the two biggest factors that distinguish one competitive strategy from another are
A)whether a company's overall costs are lower than a competitors' and whether the company can achieve strong product differentiation.
B)whether a company can offer the lowest possible prices and whether the company can get the best suppliers in the market.
C)whether a company's target market is broad or narrow and whether the company is pursuing a low cost or differentiation strategy.
D)whether a company can achieve lower costs than its rivals and whether the company is pursuing the industry's sales and market share leader's role.
E)whether a company can build a brand name and an image that buyers trust.

Question

Quizplus · Accepted Answer

The two biggest factors that distinguish one competitive strategy from another are whether a company's target market is broad or narrow and whether the company is pursuing a low-cost or differentiation strategy. This is because a company's target market determines the scope of the business and the types of customers it serves, while the competitive strategy determines the way the business competes in the market. A broad target market means a company can appeal to a larger customer base, while a narrow target market means the company specializes in serving a specific group of customers. Pursuing a low-cost strategy involves striving to be the lowest-cost producer of a product or service in the market, while a differentiation strategy involves offering a unique product or service that is perceived as valuable by customers.

Although There Are Many Routes to Competitive Advantage,the Two Biggest