Question

Usiness-level strategies detail commitments and actions taken to provide value to customers and gain competitive advantage by exploiting core competencies in Group of answer choices
the selection of industries in which the firm will compete.
specific product markets.
primary value chain activities.
particular geographic locations.

Answer 1

Answer:

The correct answer is letter "B": specific product markets.

Explanation:

Business-level strategies refer to the efforts made by companies to implement their core competencies in the making of a good or service that fits consumers' expectations. The strategies to be implemented under this approach are related to outstand competitors by reducing costs, providing a differentiated product and placing attention in a specific sector of the market.

Firms can choose either strategy or more than one according to market conditions and the resources it counts on.

Answer 2

Answer:

B. Specific Product Markets

Explanation:

Business level strategies are usually targeted at capitalizing core competencies in specific, individual product/service markets. It is concerned with a company's position in the industry in relation to the competitors in the industry.

The markets/buyers/customers are the reasons for a company's business strategy, hence why it tries to exploit core competencies in specific and individual product and service markets.

Questions like who is to be served?, what are the needs of the customers to be serve? and so on.