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Which of the Following Statements Is True

question 31

Multiple Choice

Which of the following statements is true?


Definitions:

Competitive Pressures

The influence exerted by competing organizations in a market, compelling businesses to continually improve and innovate.

Survive

To continue to live or exist, especially in spite of danger or hardship.

Porter's Generic Strategies

A framework devised by Michael Porter that outlines three strategic options for businesses to gain competitive advantage: Cost Leadership, Differentiation, and Focus.

Market Scope

Describes the extent and range of products and services a business offers, as well as the geographic and demographic characteristics of the market it aims to serve.

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