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In identifying an industry's key success factors, strategists should Select one: A. consider whether the number of strategic groups is increasing or decreasing and whether the five competitive forces are powerful or relatively weak. B. consider on what basis customers choose between competing brands, what resources and competitive capabilities firms need to be competitively successful, and what shortcomings are almost certain to put a company at a significant competitive disadvantage. C. focus their attention on what it will take to capitalize on the impacts of the industry's driving forces. D. try to single out all factors that play a major role in shaping whether buyer demand grows rapidly or slowly. E. consider what it will take to overtake the company with the industry's overall best strategy.

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Answer:

B. consider on what basis customers choose between competing brands, what resources and competitive capabilities firms need to be competitively successful, and what shortcomings are almost certain to put a company at a significant competitive disadvantage

Explanation:

In any industry there is always competition between firms to attract and retain customers. They must come up with strategic ways by which competitive edge is maintained.

This will translate to higher profits compared to other firms.

As a strategist the key success factors in the industry must be identified to aid in planning.

These success factors include: what makes customers choose between brands, capabilities that ensure a firm's success, and factors that can put a business at a competitive disadvantage.

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