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question 21

Multiple Choice

_{12. The purpose of strategies is to choose an industry-level strategy that is best suited to changes in the}
Organization's external environment.

• A) positioning
• B) differentiation
• C) growth
• D) adaptive
• E) diversification

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Definitions:

Wisdom of Crowds

The concept that large groups of people are collectively smarter than individual experts when it comes to problem-solving, decision-making, innovating, and predicting.

Guerrilla Marketing

A marketing strategy oriented towards using cost-effective unconventional methods to achieve the highest outcomes.

Promotion/Communication Technique

Strategies used by marketers to convey messages about products or services to consumers to encourage purchase or engagement.

Social Networking

The use of dedicated websites and applications to interact with other users, or to find people with similar interests to oneself.