A Focused Differentiation Strategy Aims at Securing Competitive Advantage

question 29

Multiple Choice

A focused differentiation strategy aims at securing competitive advantage

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

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Definitions:

Formalities

Specific procedures or ceremonial acts legally required to validate contracts, documents, or other legal actions.

Purported Partners

Individuals who appear to or claim to be partners in a business to the public, regardless of the legality of their partnership status.

Authority

The legal power or right given to an individual or entity to act on behalf of another or make decisions within certain parameters.

Sole Proprietorship

A business owned and operated by a single individual, where there is no legal distinction between the owner and the business entity.