According to Porter's Framework Regarding Generic Business Strategy,there Are Two

question 193

Multiple Choice

According to Porter's framework regarding generic business strategy,there are two fundamental alternatives a firm can use to seek a competitive advantage.One of these is to

• A) become the high-cost producer within the markets it competes and using a skimming pricing strategy to recoup these high R&D expenses.
• B) adopt a "me too" strategy to achieve competitive parity.
• C) become the low-cost producer within the markets in which it competes.
• D) state its function in society to differentiate itself from competitors.
• E) differentiate itself from competitors by developing similar marketing programs.

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Definitions:

Trade Balance

The difference between a country's exports and imports of goods and services.

Colonial Power

A country that establishes control over foreign territories to exploit them economically, politically, and culturally.

Manufactured Products

Goods that have been processed or transformed from raw materials into finished goods ready for sale.

Raw Materials

Basic materials extracted from the environment or that are used in the initial stages of production to make goods.