Match the Following --- A B C D Continuing to produce an existing product or service,...
Match the Following
--- A B C D
Continuing to produce an existing product or service, improving them over time, and introducing new ones, all for the same market
A. Differentiation strategy
--- A B C D
Requires research and development to focus on introducing technologically advanced processes or products
B. Focus strategy
--- A B C D
Targets a very small market and, in so doing, reduces greatly the number of competitors in the arena
C. Innovation strategy
--- A B C D
Involves producing a product that is different from or better than those of other competitors
D. Product-development strategies
Homework Answers
Answer:
Continuing to produce an existing product or service, improving them over time, and introducing new ones, all for the same market - D. Product-development strategies
- Requires research and development to focus on introducing technologically advanced processes or products - C. Innovation strategy
- Targets a very small market and, in so doing, reduces greatly the number of competitors in the arena - B. Focus strategy
- Involves producing a product that is different from or better than those of other competitors - A. Differentiation strategy
As described by Micheal Porter, various response strategies in a competitive environment include:
- Differentiation strategy - It involves a product which is comparatively different compared to that of competitor
- Focus strategy - It involves focusing on a niche area which helps to reduce competition
- Innovation strategy - it is inclined towards innovation through R&D towards advancements in new technologies
- Product-development strategies - It comprises of all strategies related to phase of product life-cycle like growth strategy
Add Answer to:
Match the Following
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