What sets focused (or market niche)strategies apart from low-cost leadership and broad differentiation strategies is:
A) the extra attention paid to top-notch product performance and product quality.
B) their concentrated attention on serving the needs of buyers in a narrow piece of the overall market.
C) greater opportunity for competitive advantage.
D) their suitability for market situations where most industry rivals have weakly differentiated products.
E) their objective of delivering more value for the money.

Question

Quizplus · Accepted Answer

Focused (or market niche) strategies focus their efforts on serving the needs of a specific segment or niche of the market. This allows for more specialized approaches to marketing, product development, and customer service, which can lead to competitive advantage over rivals. While quality and value are important, the main differentiator of a focused strategy is the concentration on serving a narrow piece of the overall market rather than trying to appeal to a broad customer base.

What Sets Focused (Or Market Niche)strategies Apart from Low-Cost Leadership