The company experienced cannibalization from the new car from its existing product line.
Answer:
The strategy that explains the methods that a division or an organization will use to compete against its rivals in the industry is a business-level strategy
Explanation:
The business-level strategy focused on increasing the value of the business to the customer while keep trying to increase profit. We can divide the strategy into 4 main types based on the source of competitive advantage and the business scope.
When the business source of competitive advantage is cost, the business will trying to have the cheapest price compared to other competitors. Another option of the competitive advantage is the differentiation of the product, making different products than your competitor.
The scope will also be divided into two types. Broad scope is when the business target a wide range of the market. Narrow scope is when focusing at niche market.
Smashburger Restaurant Concept is under the stage of GROWTH in product life cycle. They already have 370 corporate and franchise outlet all over the world which operates in 9 different countries. It is the stage wherein they are still expanding and the income is still growing.
