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The Management of Keiko Has Learned That the Company Risks

question 55

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The management of Keiko has learned that the company risks losing a long-time customer, LZT, to a competitor. What basic measures can Keiko take to build loyalty with LZT?


Definitions:

Hybrid Strategy

A competitive business strategy that combines elements of cost leadership and differentiation strategies, aiming to provide high value at a lower cost.

Customer Focus

A business orientation that prioritizes the needs and requirements of customers in product development and service delivery.

Cost Leadership

A strategy where a company aims to become the lowest cost producer in the industry to gain competitive advantage.

Top-down Approach

A strategic decision-making process that begins at the highest level of an organization and proceeds downwards, based on the overall objectives and strategic direction.

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