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Definitions from the Web

Business Strategy

Definition: Business strategy is a plan or method designed to achieve a specific goal or objective within a business. It involves making strategic decisions to allocate resources, gain a competitive advantage, and achieve long-term success.

Senses/Usages:

Sense 1: Overall Strategy

Definition: The broad plan of action or approach adopted by a business to achieve its objectives and fulfill its mission.

Sample Sentence: The company's business strategy focuses on innovation and international expansion to reach new markets and increase profitability.

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Sense 2: Competitive Strategy

Definition: The specific steps and tactics employed by a business to gain a competitive edge over its rivals in the marketplace.

Sample Sentence: Our competitive business strategy involves offering high-quality products at lower prices than our competitors, thereby attracting a larger customer base.

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Sense 3: Marketing Strategy

Definition: The strategic plan utilized by businesses to promote their products or services, reach their target audience, and achieve marketing objectives.

Sample Sentence: The company's marketing strategy includes leveraging social media platforms and influencer marketing to engage with customers and increase brand visibility.

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Sense 4: Growth Strategy

Definition: A business strategy aimed at expanding the company's market presence, increasing revenue, and achieving sustained growth.

Sample Sentence: The business's growth strategy involves acquiring smaller competitors, opening new branches, and diversifying its product offerings.

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Sense 5: Local Business Strategy

Definition: Strategies developed specifically for businesses targeting the local market, considering geographical factors, customer preferences, and community engagement.

Sample Sentence: The local bakery's business strategy focuses on building strong relationships with nearby residents, promoting locally sourced ingredients, and participating in community events.

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