Which of the following is NOT one of the three strategic approaches to competitive advantage? A. response B. cost leadership C. differentiation D. innovation

D. innovation

Explanation:

A competitive advantage is what allosw a company to be better than their competitors. This advantage needs to be difficult to duplicate, in general there are three strategies to achieve this, cost leadership, differentiation and response.

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Option A, Response.

Explanation:

In business, competitive advantage is the attribute that allows an organization to outperform it's competitors. It is an advantage over competitors gained by offering consumers greater value either by means of lower prices or by providing greater benefits and services that justifies higher prices.

The three strategic approaches to competitive advantage are:

* Cost leadership strategy: is a business's ability to produce a product that will be at a lower cost than other competitors.

* Differential strategy: This is gained when a business's products or services are different from it's competitors. This can be achieved by innovation.

* Focus strategy: This ideally tries to get businesses to aim at a few target markets rather than trying to target everyone.

The three strategic approaches to competitive advantage are: cost leadership, differentiation which also means innovation since it can be achieved through innovative ideas and focus strategy. Therefore, the option that best suits the question is option A which is response.