If a firm has a low-cost strategy aimed at a narrow market it is following which strategy?

Question

Quizplus · Accepted Answer

A low-cost strategy that targets a specific or narrow market segment is known as a cost focus strategy. This involves offering lower-priced goods or services to a particular group of consumers in order to achieve a competitive advantage. Cost focus is a low-cost strategy that focuses on a particular buyer group or geographic market and attempts to serve only this niche, to the exclusion of others.

If a Firm Has a Low-Cost Strategy Aimed at a Narrow