When implementing a focus strategy, the firm seeks to:
A) offer products that are both differentiated and low cost.
B) move into the global market.
C) target the typical customer in an industry.
D) serve the specialized needs of a market segment.

Question

Quizplus · Accepted Answer

Implementing a focus strategy means serving the specialized needs of a market segment. This involves targeting a specific group of customers with unique needs or preferences and tailoring products and services to meet those needs. A focus strategy is often used by small companies or those just starting out, as it allows them to compete effectively in a narrow market segment without the need for extensive resources.

When Implementing a Focus Strategy, the Firm Seeks To