A firm that caters to a very specific segment of its market is pursuing which generic strategy?
A) Differentiation
B) Focus
C) Cost leadership
D) Best cost

Question

Quizplus · Accepted Answer

The firm is pursuing the focus strategy, which involves targeting a specific segment within the market and catering to their unique needs and preferences. This is different from the differentiation strategy, which focuses on creating a unique product or service that sets the firm apart from competitors, and the cost leadership strategy, which aims to offer products or services at a lower cost than competitors. The best cost strategy involves offering products or services that have higher quality or features than competitors at a similar or slightly higher price.

A Firm That Caters to a Very Specific Segment of Its