Final answer:
A competitive strategy outlines how a company competes for customers within an industry, considering market structure and the company's core competencies.
Step-by-step explanation:
The strategy that answers the question, "How are we going to compete for customers within this industry?" is known as a competitive strategy. This strategy is integral to a company's success and involves understanding and acting upon various factors such as the market structure, the production and cost conditions each firm faces, and the amount of market power a firm has. Strong competitive strategies often concentrate on a company's core competency, a concept that suggests businesses focusing on one or a few products they excel in usually outperform those with a broader product range.