Regardless of the product or industry involved,the strategy a firm that adopts to achieve a competitive advantage is referred to as a(n)__________.

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A generic business strategy is the approach a firm takes to gain a competitive advantage, irrespective of the product or industry. It is a broad-based plan that outlines the firm's overall approach to achieving success in the market. The other options, such as the annual business plan, long-range marketing plan, and marketing action program, are more specific plans or tactics that support the generic business strategy. The synergy analysis framework is a tool used to assess the potential benefits of combining different businesses or departments.

Regardless of the Product or Industry Involved,the Strategy a Firm