What strategy is being used when a company chooses to pay attention only to a specific portion of a larger market?
A)Focus or niche
B)Cost leadership
C)Cost differentiation
D)Differentiation
E)Customer selection

Question

Quizplus · Accepted Answer

When a company chooses to pay attention only to a specific portion of a larger market, it is adopting a focus or niche strategy. This strategy involves targeting a narrow segment of the market and tailoring the company's products or services to meet the specific needs and preferences of that segment. By focusing on a niche, companies can differentiate themselves from their competitors and create a loyal customer base.

What Strategy Is Being Used When a Company Chooses to Pay