What Does It Mean When Firms Create New Market Space

question 3

Multiple Choice

What does it mean when firms create new market space?

• A)Firms begin to vertically integrate by acquiring their competitors,thus freeing up market space.
• B)Firms start looking across substitute industries or to complementary product and service offerings that go beyond what an industry has traditionally offered.
• C)Firms outsource their operations to low-cost labour locations in order to cut costs.
• D)Firms pursue a defender strategy by establishing strategic alliances with competitor firms in order to secure new market space.

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