The Four Major Types of Competitive Strategy Are

question 53

Multiple Choice

The four major types of competitive strategy are

• A) low-cost leadership; substitute products and services; customers; and suppliers.
• B) low-cost leadership; product differentiation; focus on market niche; and customer and supplier intimacy.
• C) new market entrants; substitute products and services; customers; and suppliers.
• D) low-cost leadership; new market entrants; product differentiation; and focus on market niche.

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Definitions:

Operant Conditioning

A method of learning that employs rewards and punishments for behavior, emphasizing the impact of consequences on future behavior.

Classical Conditioning

A learning process that occurs through associations between an environmental stimulus and a naturally occurring stimulus.

Unconditioned Stimulus

In classical conditioning, an unconditioned stimulus is something that naturally and automatically triggers a response without the need for prior learning.

Conditioned Stimulus

A previously neutral stimulus that, after becoming associated with an unconditioned stimulus, evokes a conditioned response.