Topic
What is the relationship between a firm’s customers and its business-level strategy?
Instructions
What is the relationship between a firm’s customers and its business-level strategy in terms of who, what, and how? Why is this relationship important?
Answer Preview
Business level strategies are the actions a firm takes to provide value to existing customers and gain a competitive advantage over industry rivals. A firm’s main purpose is ensuring that their customers are satisfied with their products or services and to ensure that they have above-average returns. This ensures that they have a good and stable business professional working relationship. Firms consider who the customers they are dealing with are when using business-level strategies.
Word Count: 300