Which of the Following Statements Is True About the Strategies

question 33

Multiple Choice

Which of the following statements is true about the strategies of competitive advantage?

• A) A company that engages in a differentiation strategy aims to provide a product at as low a price as possible to a broad audience.
• B) In a low-cost focus strategy,a firm attempts to target customers with special needs who have been underserved historically.
• C) In a differentiation strategy,a firm seeks to be unique in its industry along a group of dimensions that are valued by consumers.
• D) In a cost leadership strategy,the manager must pursue just a single source of lowcost
• Advantage to compete effectively.

---

Definitions:

Scarcity

A fundamental economic problem of having seemingly unlimited human wants in a world with limited resources, making rationing necessary.

Goods and Services

Goods and services constitute the output of an economy's production activities; goods are tangible products, while services are intangible benefits or functions sold to consumers.

Resource

Assets or inputs used in the production of goods and services, including natural resources, labor, and capital.

Fundamental Resource

Basic inputs used in the production of goods and services, typically including labor, capital, land, and entrepreneurship.