Which of the following best describes a focus strategy?
A)When a firm either offer a narrow set of varieties,serve a narrow set of customers,or do both
B)When a firm sells products manufactured with raw materials from monopoly suppliers
C)When a firm is the only one selling specific products
D)When a firm faces many competitors and charges a lower price
E)None of the above

Question

Quizplus · Accepted Answer

A focus strategy is a business-level strategy where the firm offers a narrow set of varieties or serves a narrow set of customers, or both. This allows the firm to specialize in a specific market segment and meet the unique needs of that segment better than its competitors.

Which of the Following Best Describes a Focus Strategy