When applying Porter's three generic strategies, Tiffany & Co. has a competitive scope and cost strategy that is ________.
A) Broad market - high cost strategy
B) Narrow market - low cost strategy
C) Narrow market - high cost strategy
D) Broad market - low cost strategy

Question

Quizplus · Accepted Answer

Tiffany & Co. targets a narrow market with a focus on high-quality, luxury products, which aligns with a high cost strategy. This approach emphasizes differentiation through unique, premium offerings rather than competing on price.

When Applying Porter's Three Generic Strategies, Tiffany & Co