An organization following ___________ strategy seeks to identify and satisfy some market niche, or certain segment of the market.
A) Cost leadership strategy
B) Differentiation strategy
C) Cost and differentiation strategy
D) Focus strategy

Question

Quizplus · Accepted Answer

A focus strategy seeks to identify and satisfy a specific market niche or segment of the market, rather than trying to compete with the overall market. This can involve targeting a particular demographic, geographic area, or product line, and tailoring products, services, and marketing efforts to meet the needs and preferences of that niche. By focusing on a narrower market, organizations can often achieve high levels of customer loyalty and profitability, despite facing competition from larger, more established companies in the broader market.

An Organization Following ___________ Strategy Seeks to Identify and Satisfy