Jennifer Bloom is writing a paper and she must determine which of Porter's three generic strategies The Museum Company has implemented.Jennifer finds out that The Museum Company offers specialty products found only in museums around the world to affluent customers.What would Jennifer determine The Museum Company is using as its generic strategy?
A)Broad market, low cost.
B)Narrow market, high cost.
C)Broad market, high cost.
D)Narrow market, low cost.

Question

Quizplus · Accepted Answer

The Museum Company is offering specialty products found only in museums around the world which suggests that they are targeting a narrow market, and the fact that their products are offered at high prices suggests that they are using the focused differentiation strategy. Therefore, the best choice is B, narrow market, high cost.

Jennifer Bloom Is Writing a Paper and She Must Determine