Differentiating the product or service for a particular market niche is called a ________.
A) market leadership strategy
B) focused strategy
C) market penetration strategy
D) cost leadership strategy

Question

Quizplus · Accepted Answer

A focused strategy is when a company differentiates its product or service to meet the needs of a particular market niche. This allows the company to focus its resources and efforts on a specific segment of customers, which can lead to increased customer loyalty and profitability. Market leadership strategy aims to be the top player in a market, market penetration strategy aims to increase market share through aggressive marketing and promotions, and cost leadership strategy focuses on producing a product or service at a low cost to remain competitive.

Differentiating the Product or Service for a Particular Market Niche