When a business gets to know market segments intimately and pursues either cost leadership or differentiation within the target segment, it is employing a ________.
A) defined strategy
B) focused strategy
C) value-added strategy
D) competitive advantage strategy
E) customer-focused strategy

Question

Quizplus · Accepted Answer

The described strategy of getting to know market segments intimately and pursuing either cost leadership or differentiation within the target segment is a focused strategy. This involves concentrating on a narrow market segment and tailoring the marketing mix to meet their specific needs and preferences, in order to achieve a competitive advantage within that target market.

When a Business Gets to Know Market Segments Intimately and Pursues