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Question 142 - CBDA discussion

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A consumer products company gained popularity with increased growth and brand recognition with one of its products. Although they have a loyal customer base and past year's performance results have shown steady growth, the Senior Leadership team wants to keep product leadership as their primary strategic priority. What would be their primary goal?

A.
Focus on providing value to customers by offering innovative and leading edge products
Answers
A.
Focus on providing value to customers by offering innovative and leading edge products
B.
Focus on their other products/product lines so that they gain momentum in popularity as well
Answers
B.
Focus on their other products/product lines so that they gain momentum in popularity as well
C.
Maintain operational efficiencies so that their products can continue to be competitively priced
Answers
C.
Maintain operational efficiencies so that their products can continue to be competitively priced
D.
Ensure that their top product continues to gain market share and maintain high standards
Answers
D.
Ensure that their top product continues to gain market share and maintain high standards
Suggested answer: A

Explanation:

Explanation: According to the IIBA's Introduction to Business Data Analytics: An Organizational View, product leadership is one of the three generic strategies that an organization can pursue to achieve competitive advantage in its market.Product leadership means that the organization focuses on providing value to customers by offering innovative and leading edge products that are superior in quality, design, functionality, or features than those of the competitors1.Product leadership requires the organization to invest in research and development, to foster a culture of creativity and experimentation, to embrace change and risk, and to leverage data and analytics to generate new ideas, test hypotheses, and measure outcomes2.Therefore, if the Senior Leadership team wants to keep product leadership as their primary strategic priority, their primary goal would be to focus on providing value to customers by offering innovative and leading edge products.

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asked 18/09/2024
Diogo Vitor
38 questions
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