When implementing a focus strategy, a firm seeks:
A)to be the lowest-cost producer in an industry
B)to offer products with unique features for which customers will pay a premium
C)to avoid being stuck in the middle
D)to serve the specialised needs of a market segment

Question

Quizplus · Accepted Answer

When implementing a focus strategy, a firm seeks to serve the specialized needs of a market segment. This involves targeting a particular market niche and tailoring products or services to the specific needs and preferences of that segment. It may involve offering unique features or customization options that are not available from competitors, and can often command a higher price point. This strategy is different from a low-cost strategy or a differentiation strategy, which focus on competing on price or product features respectively, rather than targeting a specific market segment.

When Implementing a Focus Strategy, a Firm Seeks