Western Governors University (WGU) HRM3600 C236 Compensation and Benefits Practice Exam

The hybrid strategy effectively blends elements of cost-leadership, differentiation, and niche-focused strategies. This approach allows an organization to appeal to a broader market by providing products or services that stand out while simultaneously keeping costs low. By combining these strategies, a company can target various segments of the market, meeting the needs of different customer bases without sacrificing its competitive edge.

A hybrid strategy is beneficial because it enables a company to attract price-sensitive customers with cost-leadership while also catering to those who value unique features or quality, characteristic of differentiation. Additionally, it can effectively serve niche markets by providing specialized offerings that still maintain a cost-effective structure. Thus, organizations employing a hybrid strategy can capitalize on the strengths of all three strategic approaches, allowing for flexibility and resilience in a competitive environment.