A focused differentiation strategy aims at securing competitive advantage
A) by providing niche members with a top-of-the-line product at a premium price.
B) by catering to buyers looking for an upscale product at an attractively low price.
C) with a product offering carefully designed to appeal to the unique preferences and needs of a narrow, well-defined group of buyers.
D) by developing product attributes that no other company in the industry has.
E) by convincing a narrow, well-defined group of buyers that the company has a true world class product.

Question

Quizplus · Accepted Answer

A focused differentiation strategy targets a specific group of customers with unique needs, and aims to tailor the product or service to meet those needs. This allows the company to differentiate itself from competitors and create a competitive advantage. The strategy involves understanding the specific requirements of the target market and designing a product or service that meets those needs better than anyone else. The company may charge a premium price for this specialized product, but customers are willing to pay for the added value they receive.

A Focused Differentiation Strategy Aims at Securing Competitive Advantage