Element Inc

question 49

Multiple Choice

Element Inc. manufactures a new range of smartphones to take on incumbent competitors. Element grabs a huge chunk of the market share in its first year because of its feature-rich smartphones. Element's smartphones come with bigger screen sizes, greater memory capacities, and a free online music subscription for two years. The competitors fail to lure customers despite massive price reductions. Which of the following strategies is being used by Element?

• A)focused niche strategy
• B)loss leader strategy
• C)cost leadership strategy
• D)product differentiation

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Definitions:

Parents

Adults who have a child or children, either biologically, through adoption, or via other means, and are responsible for their care and upbringing.

Children

Young human beings, typically defined as persons from birth until puberty.

Decades Ago

a term used to reference a period of ten years or more in the past.

Empty-Nest Syndrome

A feeling of loneliness or depression that parents may experience when their children grow up and leave home for the first time.