Answer: the potential options are:
A. A growth market corresponds to a differentiation-based strategy
B. A broadly-defined target market relates to a cost leadership strategy
C. A growth market is associated with a cost-based strategy
D. Technological innovation aligns with a cost-based strategy
Answer is B
Explanation:
Businesses employing a cost leadership strategy, alongside those utilizing a differentiation strategy, share a vital characteristic: both aim to appeal to a wide customer base. Their strategies to attract a diverse set of consumers contrast with approaches that focus on catering to a more specific niche. Such strategies are labeled focus strategies (Porter, 1980). A focused cost leadership strategy entails competing on prices to capture a NARROW MARKET. A firm adopting this strategy may not always offer the lowest prices in the industry; however, it sets lower prices in comparison to its competitors in the designated market segment. For instance, one might find milk cheaper at a large supermarket in their locality, while the neighborhood convenience store offers lower prices closer to home. Redbox exemplifies this concept; it rents DVDs for just $1 from vending machines located at supermarkets and other retail venues. Even cheaper options exist via Netflix's subscription-based streaming services, yet among DVD rental businesses, Redbox stands out with its exceptional prices and convenience.
I intend to establish a frozen-yogurt shop featuring various menus that incorporate typical ingredients found in Indonesian desserts. With a distinct range of products, my shop would provide a unique taste from another culture, giving me a competitive edge over other shops.
b. website design
c. email promotion
The design of the website refers to its visual layout. It ought to be appealing to both users and the owners. Additionally, it must allow for easy navigation to ensure anyone accessing the site can do so without difficulty. Email marketing is a strategy that enables sending one message to a large audience simultaneously. This approach is beneficial in terms of both time and cost efficiency. Given the circumstances, online customers experienced difficulty in navigating the website and locating the business's contact details. Thus, to enhance the site based on customer input, adjusting the website layout and utilizing email marketing are essential considerations.
Resource Planning
Clarification:
Resource management encompasses:
- the creation of compensation systems.
- Enhancement of team member performance.
- Monitoring individual and team performance.
- Recognizing and ensuring the efficient use of physical resources (oversight).
A primary responsibility of a project manager is to clearly delineate roles and responsibilities, along with other project stakeholders, utilizing tools such as the responsibility assignment matrix.
