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Element Inc. manufactures a new range of smartphones to take on incumbent competitors. Element grabs a huge chunk of the market share in its first
Element Inc. manufactures a new range of smartphones to take on incumbent competitors. Element grabs a huge chunk of the market share in its first year because of its featurerich smartphones. Element's smartphones come with bigger screen sizes, greater memory capacities, and a free online music subscription for two years. The competitors fail to lure customers despite massive price reductions. Which of the following strategies is being used by Element?
A loss leader strategy
B product differentiation
C cost leadership strategy
D focused niche strategy
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