What sets focused (or market niche)strategies apart from low-cost leadership and broad differentiation strategies is
A)the extra attention paid to top-notch product performance and product quality.
B)their concentrated attention on serving the needs of buyers in a narrow piece of the overall market.
C)greater opportunity for competitive advantage.
D)their suitability for market situations where most industry rivals have weakly differentiated products.
E)their objective of delivering more value for the least money.

Question

Quizplus · Accepted Answer

Focused or market niche strategies differ from low-cost leadership and broad differentiation strategies in their concentration on serving the needs of buyers in a narrow portion of the overall market. This allows for a more tailored approach to meet the specific needs of a particular group of customers and can lead to greater competitive advantage in that targeted market segment. The other options listed do not necessarily set focused strategies apart from the other strategic approaches.

What Sets Focused (Or Market Niche)strategies Apart from Low-Cost Leadership