Simon Corp., a global financial services firm, has entered a region whose per capita income is very high. To make its financial products more attractive, it introduces new schemes that specifically cater to high income groups. This is an example of:

Question

​Simon Corp., a global financial services firm, has entered a region whose per capita income is very high. To make its financial products more attractive, it introduces new schemes that specifically cater to high income groups. This is an example of:

Quizplus · Accepted Answer

Simon Corp. is employing a focus strategy by targeting a specific segment of the market, in this case, high income groups, with tailored financial products. This approach concentrates on serving a particular demographic well, rather than trying to appeal to a broader audience.

​Simon Corp

Simon Corp