GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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This is a method used by a business to find attributes that is important and to set them apart itself from its competitors.
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differentiation
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cost leadership
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alliance
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defensive strategy
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Explanation:
Detailed explanation-1: -A company can set itself apart from the competition in two ways: through cost leadership or through product differentiation. Cost leadership emphasizes saving money and appeals to those who are on a budget. Product differentiation focuses on providing quality.
Detailed explanation-2: -Specialization can set small businesses apart from the competition. Specializing in a specific product, service, or clientele provides the greatest opportunity for businesses to become the best at what they do and to deliver continuous innovation around optimizing products or services.
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