Answer to Question #191912 in Economics for Beauty Magadlela

Question

 Tsogo Sun creates and maintains long-term sustainable value through a number of key pillars including meeting reasonable requirements for their stakeholders, financial strength and durability and maintaining product relevance to customer experience.

By maintaining product relevance to customer experience through constantly improving its products and services, Tsogo Sun is adopting a corporate growth strategy known as _____________

1 concentration growth

2 innovation

3 integration

4 diversification

Answer 1

A concentration strategy involves trying to compete successfully within a single industry. Market penetration, market development, and product development are three methods to grow within an industry.

So, the correct answer is 1.