Answer the following question based on the lecture notes provided (attached). The answer needs to be 1-1.5 pages, single-spaced with 1-inch margins. No sources need to be cited.
Question:
If a firm wishes to successfully execute a differentiation business-level strategy, it must address certain key elements. Explain how/why successful differentiation must consider the three areas listed below. Discuss these SEPARATELY for each of the three items. Let me rephrase the question (I will use the first bullet – competition): Fully discuss all the issues related to competition that might negatively impact your differentiation success. In other words, what can competition do to make your differentiation strategy not be successful? Another (and far less eloquent) way of saying it: what can competition do to screw up your differentiation success?
A. Competition
B. Consumers
C. Suppliers
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