Learning Path
Question & Answer
Choose the Best Answer
It makes buyers more price-sensitive.
It increases the number of competitors.
It reduces buyer power by providing unique value.
It has no effect on buyer power.
Understanding the Answer
Let's break down why this is correct
A strong value proposition means the product offers something special that competitors do not match. Other options are incorrect because The idea that a strong value proposition makes buyers more price-sensitive is mistaken; The notion that a strong value proposition attracts more competitors is incorrect.
Key Concepts
Business Strategy
hard level question
understand
Deep Dive: Business Strategy
Master the fundamentals
Definition
Business strategy refers to the long-term direction and scope of an organization to achieve a competitive advantage in a dynamic environment. It involves leveraging resources and competencies to adapt to changes and drive success. Managers play a crucial role in contributing to strategic discussions and decision-making processes.
Topic Definition
Business strategy refers to the long-term direction and scope of an organization to achieve a competitive advantage in a dynamic environment. It involves leveraging resources and competencies to adapt to changes and drive success. Managers play a crucial role in contributing to strategic discussions and decision-making processes.
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