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Select all that applyA company's competitive strategy is an effort to do which of the following?Multiple select question.ward off competitorsignore the company's target marketplease customersachieve competitive advantageward off customers

Question

Select all that applyA company's competitive strategy is an effort to do which of the following?Multiple select question.ward off competitorsignore the company's target marketplease customersachieve competitive advantageward off customers

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Solution

The correct answers to this question are:

  1. Ward off competitors: A company's competitive strategy often involves efforts to ward off competitors, either by offering superior products or services, or by using other tactics such as aggressive marketing or pricing strategies.

  2. Please customers: A successful competitive strategy will also aim to please customers. This could be through offering high-quality products or services, excellent customer service, or other factors that make the company more appealing to its target market.

  3. Achieve competitive advantage: The ultimate goal of a company's competitive strategy is to achieve a competitive advantage. This means being able to offer something that competitors cannot, whether that's a unique product, lower prices, or another unique selling point.

The options "ignore the company's target market" and "ward off customers" are not part of a company's competitive strategy. Ignoring the target market would likely lead to a loss of business, and warding off customers is the opposite of what a company wants to achieve.

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