Businesses pursuing a ___ seek a competitive advantage by concentrating on one special market segment and trying to be the lowest cost provider in that segment.

Question

Quizplus · Accepted Answer

The focused cost leadership strategy involves concentrating on a special market segment and striving to be the lowest cost producer in that segment. This can be an effective way to achieve a competitive advantage and appeal to price-sensitive customers. The other options mentioned (differentiation strategy, cost leadership strategy, focused differentiation strategy, and retrenchment strategy) do not specifically involve the combination of focusing on a specific market segment and pursuing low costs.

Businesses Pursuing a ___ Seek a Competitive Advantage by Concentrating