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24 October, 14:10

Which strategy requires a high level of understanding of what consumers value? Multiple Choice Leadership-Focus Focused-Differentiation Cost-Focus Differentiation Cost-Leadership

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  1. 24 October, 16:35
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    The correct option is Focused-differentiation

    Explanation:

    Focused-differentiation is a competitive strategy that portrays a product or service as uniquely valued, hence the customers are willing to pay higher price in return for its distinguishing characteristics

    Leadership-focused is about striving to be the leader in a particular market based on either cost leadership or being the leader at offering the best in class product

    Cost-focus differentiation is when a producer aims at lowest cost as well as being a unique producer of best quality

    Cost leadership is about being the first to reckon with when it comes offering the most competitive price. By selling at lower prices, the company is able to appeal to customers of competing brands.
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