Final answer:
A company's competitive strategy defines the set of customer needs that it seeks to satisfy through its products and services.
Step-by-step explanation:
A company's competitive strategy defines the set of customer needs that it seeks to satisfy through its products and services. This statement is true. A competitive strategy is the plan that a company develops to differentiate itself from competitors and gain a competitive advantage in the market. It specifies the target customers and the unique value proposition that the company offers to fulfill their needs. For example, if a company's competitive strategy is to provide high-quality, affordable smartphones, it will focus on developing products and services that cater to the specific needs of smartphone users.