One of the Action Plans Implicated by Competitive Analysis Is

question 17

Multiple Choice

One of the action plans implicated by competitive analysis is a firm will want to choose its competitive battlegrounds judiciously.If it is a low-cost producer:

• A) It might enjoy profitable business from a large, powerful buyer
• B) It should probably not pursue business from a powerful buyer
• C) It should compete in another customer sector where quick response is critical
• D) It should compete in another customer sector where specialized technical service is critical
• E) It will enjoy profitable business only from a small buyer

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Definitions:

Entrepreneurs

Innovative individuals who start and run businesses, often taking on financial risks in the hope of profit, and playing a key role in economic development.

Increase Value

The process of enhancing the worth or utility of a product, service, or asset.

Resource Value

Refers to the economic value assigned to natural or human resources based on their utility in producing goods and services.

Business Start-Ups

New ventures initiated by entrepreneurs aiming to meet a marketplace need or to offer an innovative product or service.