CORA, a breakfast chain, is known for its old$-$style potatoes, ham, and egg sandwiches. A rival introduces a new breakfast concept with exotic fruits and sandwiches customers can make themselves that conflicts with the industry$$s current competitive practices. The owners of Cora realize that they may lose some customers to this new concept. But instead of competing by offering the new breakfast concept that the rival has introduced, they decide to stick to and to market their old$-$style potatoes, ham, and egg sandwiches, which they are famous for. Which of the following responses are they following

a$.$

Offering lower cost products or services.

b$.$

Forming a joint venture with another firm.

c$.$

Focusing on traditional modes of business.

d$.$

Developing better product differentiation.

e$.$

Entering a strategic alliance with a global player.

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Jun. $17,2024$