Question

A retail company feels that it has a mixed identity. Some of the leadership is focused on promoting the company as offering the highest quality, whereas other leaders argue that the company should lower prices to attract customers. The team is working through a strategic management process and determines that it needs better definition for the way it will compete against its rivals within the same industry and product category. This company needs to formulate and implement a(n) _____ strategy.

Answer 1

Answer:

D. Business Level strategy

Explanation:

Business level strategy is a plan that involves providing value to customers while also gaining competitive advantage in specific industry. They are definitive plans and actions put in place to attain and satisfy customers by offering goods and services that meet their needs whole also gaining competitive advantage by exploiting core competencies in specific industries or products/service market. In this scenario, business level strategy helps find answers to leadership focused on promoting the company as offering the highest quality, other leadership focused on lowering prices to attract customers and the team working on strategic management to compete against its rivals within the same industry and product category.