Question

The objective of a competitive strategy is to establish a competitively powerful value chain. grow revenues at a faster annual rate than rivals are able to grow their revenues. lend greater detail to the company's business model. provide buyers superior value relative to the offerings of rival sellers in order to attain a competitive advantage. get the company into the best strategic group and then dominate it.

Answer 1

Provide buyers superior value relative to the offerings of rival sellers in order to attain a competitive advantage.

Explanation:

The strategy or the plan that is being used by a company in a long term for the purpose of gaining advantage over the competitors of the similar field refers to the Competitive Strategy. The main aim of using competitive advantage in the creation of a defensive position so that the competitors will not compete with the company and also aims in attaining higher return on investment.

The types of competitive strategies are differentiation strategies,focus strategies and  Cost-leadership strategies. Thus competitive strategies aims in providing superior value to the offerings given to the buyers and gaining a competitive advantage.