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

---

Definitions:

Open-Loop System

A type of control system that operates without using feedback to adjust its input for the desired output, making it less accurate.

Process Affects

Pertains to the impact or changes that occur as a result of executing a particular sequence of operations or activities within a system or procedure.

Trend Values

Data points collected over time to analyze patterns, performance, or changes in a system or process for diagnostic and predictive purposes.

Graphic HMI Terminals

Devices that provide an interface for human-machine interaction, displaying graphics and information visually for users to control and monitor machinery or systems.