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.

---

Definitions:

Client Care

The provision of services and support to meet the needs and improve the well-being of clients or patients.

Posting

The act of publishing content or messages on digital platforms or social media websites.

Electronic Health System Software

Digital platforms used by healthcare providers to manage patient information, enhance diagnostic and treatment capabilities, and improve communication within the healthcare system.

Interoperability

The ability of different systems, devices, and applications to work together within and across organizational boundaries to exchange and use information efficiently and cooperatively.