Which one of the five generic competitive strategies discussed in Chapter 1 most closely approximates the competitive approach Apple Inc. is employing?

The correct answer is: Broad differentiation strategy.

Explanation:

American economist Michael Porter (born in 1947) proposes there are Five Generic Competitive Strategies in market targeting while pursuing a competitive advantage: Overall low-cost, Broad Differentiation, Focused low-cost, Focused differentiation, and Best-cost provider strategy.

With the Broad differentiation strategy firms aim to provide customers a product that is different from its competitors to capture the largest number possible of consumers. This strategy is the closest approach Apple, Inc. has been using to keep its share in the mobile phone devices market.