Olufsen Company is the World\'s Largest Online Dealer of Luxury Audio . Thus, th

Question

Olufsen Company is the World's Largest Online Dealer of Luxury Audio . Thus, the company implements a differentiation strategy. A renewal strategy requires looking at your business through a new lens to recognize what actions are needed to stay current in today's ever-changing economy. Virgin Media moved from music producing to travels and mobile phones while Walt Disney moved from producing animated movies to theme parks and vacation properties. Both companies follow a vertical integration strategy When uncertainty is high managers must be specific in order to respond to unexpected changes. A Marketing Director plans a meeting of staff nurses to reinforce knowledge gained from orientation of new staff. It's an example of strategic plan.

Explanation / Answer

1.

True

A differentiation strategy refers to the strategy where a company offers unique and differentiated products that are valued and perceived better than competitors by customers.

2. True

A renewal strategy or a corporate turnaround strategy that a company uses to revive or to recover the decline in its sales. Thus, a company reorganizes itself to stay current in today’s changing economy.

3. True

Vertical integration is the process of merging two or more business that are at different stages of production or business.

4. False

A manger should be flexible and should act and respond according to unexpected changes.

5. True

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