What is typically a characteristic of a strategic group?

A strategic group is defined as a set of firms within an industry that follow similar strategies, compete directly with each other, and often target the same customer segments. One of the key characteristics of a strategic group is that its members have similar customer bases. This means they tend to appeal to similar demographics or market segments, which reflects a shared understanding of consumer needs and preferences.

The other options do not accurately describe the nature of strategic groups. While firms within different strategic groups may indeed operate in the same industry, they do not operate in different industries; they are part of the same industry but differentiate based on specific strategic approaches. Similarly, firms within a strategic group are not following entirely different marketing strategies; in fact, their marketing strategies tend to be similar to address the needs of the shared customer base. Competing globally can also be a characteristic of various firms, but it is not a determining factor for identifying strategic groups, which can very well operate in local or niche markets as well.