The grand strategy in which the firm directs its resources to the profitable growth of a single product,in a single market and with a single technology is termed:
A) Product development
B) Market development
C) Concentrated growth
D) Vertical integration

Question

Quizplus · Accepted Answer

Concentrated growth is the strategy where the firm focuses on the growth of a single product in a single market with a single technology. This involves directing all resources to maximize the potential of this one product, market, and technology. This can enable the firm to establish a strong competitive position in the market and achieve economies of scale. It can also result in higher profits due to the focus on the single product-market combination.

The Grand Strategy in Which the Firm Directs Its Resources