What Should a Company Do If Its Competitor's Product Contains

question 15

Essay

What should a company do if its competitor's product contains features that are not available in its own product?

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Definitions:

Forward Integration

A business strategy where a company controls the distribution or supply chain for its products by moving downstream in the production process, often to get closer to the end consumer.

Acquire Supplier

Acquiring a supplier involves taking over or merging with a company that provides essential goods or services to your business, aiming to streamline operations or secure supply chains.

Growth Strategy

A plan of action designed to increase the size, revenue, market share, or profitability of a business through expansion efforts, product development, market penetration, or acquisition.

Diversification

A risk management strategy that involves adding a wide range of investments, products, or markets to a portfolio or business model.