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Which of the following statements about strategy is most accurate?
Multiple Choice
a) Only start-up organizations must develop strategies to help them raise capital as well as focus and direct their efforts to accomplish their goals.
b) Strategy is an organization’s short-term course of action designed to deliver a specific customer experience while achieving its internal standards.
c) An organization can be all things to all people because it has access to all the resources it needs to discover and satisfy the needs and wants of its target markets.
d) The marketing department helps to both set an organization’s direction and move it there.
There are three strategies that can be employed by a company in a particular industry to be competitive with other companies. These strategies are cost-leadership approach, strategy for differentiation and a niche or focus strategy. The parameters like mix of products and cost per unit and the desired profit per unit are usually altered depending on the strategy chosen.
Answer:
Option D is the correct solution.
Strategy is a long term planning initaitive and is used by both established companies and startups as well. Using Strategy, a marketing team can help set an organization’s planning and giving a direction to it.