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Describe the Four Broad Strategies Often Employed by Market Followers

question 46

Essay

Describe the four broad strategies often employed by market followers to meet their competitors.


Definitions:

Main Techniques

Primary or fundamental methods employed in a specific field or practice to achieve desired outcomes.

Distinctive Features

Unique attributes or characteristics that differentiate an object, concept, or entity from others in its category.

Organization

An arranged group of people with a specific purpose, structure, and strategy working toward common goals.

Employer Branding

The strategy of positioning a company as the preferred employer for a specific group that the company aims to attract and keep.

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