A Focused Differentiation Strategy Aims at Securing Competitive Advantage by

question 92

Multiple Choice

A focused differentiation strategy aims at securing competitive advantage by

• A)providing niche members with a top-of-the-line product at a premium price.
• B)catering to buyers looking for an upscale product at an attractively low price.
• C)offering a product carefully designed to appeal to the unique preferences and needs of a narrow, well-defined group of buyers.
• D)developing product attributes that no other company in the industry has.
• E)convincing a narrow, well-defined group of buyers that the company has a truly world-class product.

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Definitions:

Negative-sum Games

Situations in which the total losses exceed the total gains, leading to a net decrease in wealth or benefit.

Incentive

A thing that motivates or encourages someone to do something, particularly in economic contexts to influence behaviors.

Dominant Strategy

A strategy in game theory that is best for a player regardless of the strategies chosen by the other players.

Nash Equilibrium

A concept in game theory where no participant can gain by unilaterally changing their strategy if the strategies of the others remain unchanged.