Question

A company that rents bikes to students without any supporting business processes has likely implemented a ____________ competitive strategy.

Answer 1

A company that rents bikes to students without any supporting business processes has likely implemented a differentiation competitive strategy.

What does "competitive strategy" mean?

A business uses a set of rules and practices known as a competitive strategy to acquire a competitive edge in the market. It is the procedure for choosing and carrying out steps that enable a corporation to strengthen its position in the market.

A company's competitive strategy is its long-term action plan, which is intended to provide it a competitive edge over its rivals after assessing their industry-specific strengths, weaknesses, opportunities, and threats in comparison to your own.

In essence, differentiation in business relates to the idea of distinguishing your business from the competitors by a particular feature, such your distribution system or pricing point.

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