Market Follower Strategies. What strategy involves copying some aspects of the leader but differentiating on packaging, advertising, pricing, or location?Question 19Answera.Adapterb.Clonerc.Imitator
Question
Market Follower Strategies. What strategy involves copying some aspects of the leader but differentiating on packaging, advertising, pricing, or location?Question 19Answera.Adapterb.Clonerc.Imitator
Solution
Sure, let's break down the question and the possible answers step by step.
The question is asking about a market follower strategy that involves copying some aspects of the market leader but differentiating in other areas such as packaging, advertising, pricing, or location.
Let's analyze each option:
a. Adapter: This strategy typically involves adapting the leader's products or services to better fit the needs of the market. While it may involve some copying, the focus is more on making adjustments and improvements rather than just copying.
b. Cloner: This strategy involves directly copying the leader's products, services, and business model with little to no differentiation. A cloner aims to replicate the leader as closely as possible.
c. Imitator: This strategy involves copying some aspects of the leader but differentiating in other areas such as packaging, advertising, pricing, or location. The imitator seeks to leverage the successful elements of the leader's strategy while adding unique elements to stand out.
Given the definitions, the correct answer is:
c. Imitator
The imitator strategy involves copying some aspects of the leader but differentiating on packaging, advertising, pricing, or location.
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